The Texas Department of Insurance has issued a bulletin reminding all regulated entities, their brokers, and their representatives that they’re answerable for the accuracy of the info utilized in ranking, underwriting, and claims dealing with – even when the info is supplied by a 3rd celebration.
TDI mentioned it might pursue enforcement motion towards an insurer if its use of inaccurate information harms policyholders. Insurers are inspired to supply policyholders with a solution to assessment and proper information being utilized by the insurer.
Questions relating to bulletin #B-0036-20 could also be addressed to the Property and Casualty Actuarial Office at PCActuarial@tdi.texas.gov.
Was this text helpful?
Here are extra articles you might get pleasure from.
The most vital insurance coverage information,in your inbox each enterprise day.
Get the insurance coverage business’s trusted e-newsletter