{"id":"AGY-ST-INSURANCE-BANKING-019","kind":"context","level":"sector-regulator","jurisdiction":"Texas; Texas Department of Insurance","state":"TX","metro":"","industry":"","agency":"ST-INSURANCE-BANKING","eco":"","issuer":"Commissioner of Insurance","authority":"Tex. Ins. Code § 36.001","instrument":"Commissioner\u0027s Bulletin # B-0020-20","title":"COVID-19: Commercial premium adjustments and midterm premium audits","dateIssued":"2020-04-15","effective":"2020-04-15","end":"Not rescinded","startDate":"2020-04-15","endDate":"2021-09-30","quarters":["2020Q2","2020Q3","2020Q4","2021Q1","2021Q2","2021Q3"],"types":["OTHER"],"addressees":["all property and casualty insurers in Texas, including workers\u0027 compensation insurers","agents","premium finance companies"],"clause":"The premium for many commercial property and casualty policies are calculated using an auditable exposure such as payroll or sales. Because of the impact the COVID-19 outbreak has had on Texas businesses, the Texas Department of Insurance (TDI) expects insurers to work with commercial policyholders that have reduced operations due to the COVID-19 outbreak. For policies calculated using an auditable exposure that may have changed as a result of the COVID-19 outbreak, TDI encourages insurers to: Conduct midterm premium audits if requested by policyholders... Consider any reduced risk for businesses that change operations or elect to continue paying employees when they are not working.","enforcement":"Tex. Ins. Code chs. 82, 84; rate regulation ch. 2251","functions":["IN commercial lines underwriting and premium audit","CB every commercial policyholder \u0027that ha[s] reduced operations due to the COVID-19 outbreak\u0027 (payroll- and sales-rated policies in every industry)"],"notes":"The regulator\u0027s finding of April 15, 2020 that Texas businesses had \u0027reduced operations\u0027 and were paying employees \u0027when they are not working.\u0027","sourceUrl":"https://www.tdi.texas.gov/bulletins/2020/B-0020-20.html","snapshot":"https://web.archive.org/web/20200419203516/https://www.tdi.texas.gov/bulletins/2020/B-0020-20.html","fileExists":true,"fileBytes":211554,"grade":"primary","character":"context","description":"","collection":"AGY-ST-INSURANCE-BANKING","url":"/library/AGY-ST-INSURANCE-BANKING-019","exhibitUrl":"/exhibit/AGY-ST-INSURANCE-BANKING-019","citation":"Commissioner of Insurance, Commissioner\u0027s Bulletin # B-0020-20 (Apr. 15, 2020) (Ex. AGY-ST-INSURANCE-BANKING-019)","stateName":"Texas","related":["AGY-ST-INSURANCE-BANKING-018","AGY-ST-INSURANCE-BANKING-015"]}