The Texas Department of Insurance (“TDI”) has recently issued Bulletin # B-0008-25, applicable to all property and casualty insurers, requiring the reporting of reasons for declinations of applications and cancellations and nonrenewals of policies. The key highlights are as follows:
- Under House Bill 2067 (“HB 2067”), insurers are required to provide written reports summarizing their reasons for declinations of insurance applications and cancellations and nonrenewals of existing policies provided to applicants or policyholders to the TDI at least once each quarter.
- TDI plans to implement these reporting requirements in three phases:
- Residential Property and Private Passenger Automobile Insurance:
- TDI will propose rules to revise the Texas Statistical Plan for Residential Risks and the Texas Private Passenger Auto Statistical Plan.
- TDI plans to issue guidance on complying with the reporting requirements for workers’ compensation insurance policies.
- Certain Commercial Insurance:
- TDI plans to propose rules to amend the Texas Commercial Lines Statistical Plan.
- Other Property and Casualty Insurance Lines:
- TDI will investigate reporting options for the lines of property and casualty insurance that TDI does not collect statistical data for but that fall under the scope of HB 2067.
- Residential Property and Private Passenger Automobile Insurance:
- Please note that HB 2067 will apply to applications made and policies delivered, issued, or renewed on or after January 1, 2026.
For any questions related to the above referenced bulletin in Texas, please contact Westmont Associates!