Texas § IN.751.152 - ADDITIONAL ANALYSIS OF MARKET ACTIONS

§ IN.751.152. ADDITIONAL ANALYSIS OF MARKET ACTIONS

ADDITIONAL ANALYSIS OF MARKET ACTIONS. (a) If, as a result of the market analysis, the commissioner determines that further inquiry into a particular insurer or insurance practice is needed, the commissioner shall consider taking one or more of the market conduct actions described by Subsection (b) before conducting a targeted examination. If a market conduct action selected by the commissioner requires the participation of or a response by the affected insurer, the commissioner shall notify the insurer of the action selected in writing. (b) Market conduct actions described by Subsection (a) may include: (1) correspondence with the insurer; (2) insurer interviews; (3) information gathering; (4) policy and procedure reviews; (5) interrogatories; and (6) review of insurer self-evaluation and compliance programs, including insurer membership in a best-practice organization. (c) The commissioner shall select market conduct actions that are efficient and cost-effective for the department and the insurer while protecting the interests of the insurance consumer. (d) The commissioner shall take steps reasonably necessary to: (1) eliminate requests for information that duplicates or conflicts with information provided as part of an insurer's annual financial statement, the annual market conduct statement of the National Association of Insurance Commissioners, or other required schedules, surveys, or reports that are regularly submitted to the commissioner, or with data requests made by other states if that information is available to the commissioner, unless the information is state specific; and (2) coordinate the market conduct actions and findings of this state with those of other states. Added by Acts 2005, 79th Leg., Ch. 291 (S.B. 14 ), Sec. 3, eff. September 1, 2005.