Tex. Insurance Code § 1153.107
This is the official text of Tex. Insurance Code § 1153.107, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 1153.107. RATE STANDARD.
Official statutory text
(a) A rate filed under this subchapter is not excessive unless the rate is unreasonably high for the coverage provided and a reasonable degree of competition does not exist with respect to the classification to which the rate is applicable.
(b) A rate filed under this subchapter is not inadequate unless the rate is insufficient to sustain projected losses and expenses or the rate substantially impairs, or is likely to substantially impair, competition with respect to the sale of the product.
(b) A rate filed under this subchapter is not inadequate unless the rate is insufficient to sustain projected losses and expenses or the rate substantially impairs, or is likely to substantially impair, competition with respect to the sale of the product.
Status: in_force · Read it on the official government site
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