Texas Insurance Code
§ 751.153 — PROTOCOLS FOR MARKET CONDUCT ACTIONS
IN § 751.153Title 5. PROTECTION OF CONSUMER INTERESTS · Part G. REGULATION OF INSURER MARKET CONDUCT · Ch. 751. MARKET CONDUCT SURVEILLANCE · Art. D. MARKET ANALYSIS PROCEDURES
Statute text
View on source(a)Each market conduct action taken as a result of a market analysis:
(1)must focus on the general business practices and compliance activities of insurers, rather than identifying infrequent or unintentional random errors that do not cause significant consumer harm; and
(2)may not result in a market conduct examination, unless the head of the insurance regulatory agency in the insurer's state of domicile determines that a market conduct examination is needed.
(b)The commissioner may determine the frequency and timing of the market conduct actions. The timing of an action depends on the specific market conduct action to be initiated unless extraordinary circumstances indicating a risk to consumers require immediate action.
(c)If the commissioner has information that more than one insurer is engaged in practices that may violate statutes or rules, the commissioner may schedule and coordinate multiple examinations simultaneously.
(d)The commissioner shall provide an insurer with an opportunity to resolve to the satisfaction of the commissioner any matter that arises as a result of a market analysis before any additional market conduct actions are taken against the insurer. If the insurer has modified a practice or procedure as a result of a market conduct action taken or examination conducted by the insurance commissioner of another state, and the commissioner deems that state's market conduct surveillance system comparable to the system required under this chapter, the commissioner may accept the modified practice or procedure and may require other or additional practice or procedure modifications.
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Legislative history
Added by Acts 2005, 79th Leg., Ch. 291 (S.B. 14), Sec. 3, eff. September 1, 2005.