Ins. Dept. Considering Repeal of Obsolete Retro Plan

The Texas Department of Insurance is proposing to repeal the Texas Retrospective Rating Plan Manual, an optional manual that became obsolete after the state's transfer of the ratemaking function to the National Council on Compensation Insurance last year. Insurance Department staff filed a petition asking Insurance Commissioner David Mattax to repeal the rules, factors, values, endorsements and forms in the Texas Retro Plan for new and renewal workers’ compensation policies written on a retrospectively rated basis with effective dates on or after Jan. 1, 2017. The petition sta...