Agency to Consider Reducing Relativities by 15%

The insurance commissioner will hold a public hearing to consider a recommendation by the Department of Insurance to revise Texas’ workers’ compensation classification relativities. The proposal is to reduce the overall level by 15% from the July 1, 2017, level, effective July 1, 2018. Reducing the overall level of relativities by 15% would result in a net overall decrease of 35% since 2011, roughly the overall decrease in loss costs for that same period. Under Insurance Code Section 2053.051, TDI must determine hazards by class and establish classification relativities for the ...