TDI Issues Warning About Inaccurate Third-Party Data

The Texas Department of Insurance is reminding insurers that data submitted for rating, underwriting and claims handling must be accurate, even if the data comes from a third party. “TDI may pursue enforcement action against an insurer if its use of inaccurate data harms policyholders,” a department bulletin reads. “Insurers are encouraged to provide policyholders with a way to review and correct data being used by the insurer.” The bulletin did not explain what prompted the announcement, and officials could not be reached for comment. Questions about the notice can ...