TDI Announces New Methodology for Calculating Assessment Rates

The Texas Department of Insurance has announced changes to the way it calculates assessments on carriers it's inspecting. The new method consists of "determined by calculating the department's total cost need, and subtracting from that number funds resulting from fee revenue and funds remaining from fiscal year 2014," though the exact process changes depending on the type of company, according to the Texas Register. Domestic companies are required to pay for the salary and expenses of the examiners inspecting them, while foreign companies must pay an additional assessment eq...