TX | The Texas Department of Insurance today issued Commissioner’s Bulletin B-0001-23. It notifies all insurance companies writing workers’ compensation and employers’ liability insurance in Texas that for policies with an effective date on or after July 1, 2023, insurance companies must use one of the following rate bases:
- (1) their own independent, insurer-specific classification relativities; or
- (2) NCCI loss costs effective July 1, 2023.
For policies with an effective date on or after July 1, 2023, insurance companies may not base their rates on the NCCI loss costs from July 1, 2022, or any prior year’s loss costs or relativities.
Click here to read the bulletin for additional information.