Sec. 2053.051. HAZARD CLASSIFICATION SYSTEM. (a) For workers' compensation insurance, the department shall:
(1) determine hazards by class; and
(2) revise the classification system as necessary to carry out the purposes of this chapter.
(b) A stock company, mutual insurance company, reciprocal or interinsurance exchange, or Lloyd's plan authorized to engage in the business of workers' compensation insurance in this state may not use hazard classifications other than the classifications established by the department.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 558 (S.B. 1336), Sec. 3, eff. September 1, 2019.
Structure Texas Statutes
Title 10 - Property and Casualty Insurance
Subtitle E - Workers' Compensation Insurance
Chapter 2053 - Rates for Workers' Compensation Insurance
Subchapter B. Rate Administration
Section 2053.051. Hazard Classification System
Section 2053.052. Experience Rating Plan
Section 2053.054. Use of Incurred Claims Experience in Future Ratings Required