TDI releases proposed 2018 maintenance fees and assessments
On Friday, November 10, TDI released the proposed maintenance fees and assessments for insurers in Texas.
The cost in 2018 to an insurer that received premiums in 2017 will be:
An insurer that receives premiums for workers' compensation insurance in 2017 will also pay 2.0 percent of that premium for the operation of DWC and OIEC and .054 of 1 percent of that premium to fund the Workers' Compensation Research and Evaluation Group's activities.
- for motor vehicle insurance, .052 of 1 percent of those gross premiums
- for casualty insurance and fidelity, guaranty, and surety bonds, .071 of 1 percent of those gross premiums
- for fire insurance and allied lines, including inland marine, .345 of 1 percent of those gross premiums
- for workers' compensation insurance, .069 of 1 percent of those gross premiums
A workers' compensation self-insurance group will pay 2.0 percent of its 2017 gross premium for the group's retention under Labor Code §407A.301 and .069 of 1 percent of its 2017 gross premium for the group's retention under Labor Code §407A.302.
Read the full document detailing the above here.
The amount of the assessment in 2018 for every domestic insurer and those foreign insurers examined in 2017 will be .00104 of 1 percent of the company’s admitted assets as of December 31, 2017, excluding pension assets specified in subsection (c)(2)(A), and .00405 of 1 percent of the company’s gross premium receipts for 2017, excluding pension related premiums specified in subsection (c)(2)(B), and premiums related to welfare benefits described in subsection (c)(6).
Read the full assessment document detailing the above here.
Comments on these proposals are due back by December 11. Instructions on how to submit comments are included in the announcement.