TDI updates FAIR Plan
assessment and recoupment bulletin

This morning, TDI sent out notice of an update to their February 2018 FAIR Plan bulletin, which offered guidance on assessments and recoupments.  The updated TDI bulletin adds a link to the Texas Comptroller’s office FAQ on whether the surcharges are subject to premium taxes (see item 19 in Commissioner’s Bulletin # B-0002-18A). 
According the Comptroller FAQ,
“(t)he surcharges authorized under Insurance Code, Section 2211.104 are subject to premium tax under Insurance Code, Chapter 221 and maintenance tax under Chapters 252 and 253 as applicable. The Insurance Code does not provide an exemption or deduction for the premium surcharges and the amounts represent a consideration for insurance subject to both premium tax and maintenance tax. The premium surcharges are not included in the retaliatory tax computation under Insurance Code, Section 281.005(4)
ICT’s legal counsel is working with TDI and the Comptroller’s office; ICT will update our members on any further developments regarding the premium tax issue.


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