Sec. 2053.008. EFFECT OF DISAPPROVAL ORDER. (a) If a workers' compensation insurance policy is issued and the commissioner subsequently disapproves the rate or filing that governs the premium charged on the policy, the policyholder may:
(1) continue the policy at the original rate;
(2) cancel the policy without penalty; or
(3) enter into an agreement with the insurance company issuing the policy to amend the policy to reflect the premium that would have been charged based on the insurance company's most recently approved rate.
(b) An amendment under Subsection (a)(3) may not take effect before the date further use of the rate is prohibited under an order issued under Section 2053.007.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Structure Texas Statutes
Title 10 - Property and Casualty Insurance
Subtitle E - Workers' Compensation Insurance
Chapter 2053 - Rates for Workers' Compensation Insurance
Section 2053.002. Rate Standards
Section 2053.003. Rate Filing and Supporting Information
Section 2053.004. Public Information
Section 2053.005. Effective Date of Rate; Hearing
Section 2053.006. Disapproval of Rate Filing; Hearing
Section 2053.007. Disapproval of Rate; Hearing
Section 2053.008. Effect of Disapproval Order
Section 2053.011. Exclusive Jurisdiction
Section 2053.013. Review of Rates; Consideration of Other Law