Texas Department of Insurance Seeks Input for 2016 Biennial Report to the Texas Legislature

On March 10, 2016, the Texas Department of Insurance (TDI) will hold a stakeholders meeting to seek input on the preparation of the Department’s next report to the Texas Legislature. Pursuant to Texas Insurance Code Section 32.022, TDI is required to provide a report to the Legislature by December 31st of even-numbered years in preparation for the regular legislative session that begins in January of odd-numbered years. TDI’s Biennial Report discusses changes in the laws regulating the insurance industry which the Department views are needed. As a result, the 2016 Biennial Report is expected to be a roadmap for potential changes in Texas insurance laws that may be considered by lawmakers in 2017 when the 85th Legislature convenes.

This year’s stakeholder meeting will be held at TDI’s offices in Austin, Texas from 1:00 p.m. to 5:00 p.m. (Room 100 of the Hobby Building at 333 Guadalupe). Copies of TDI’s previous reports can be found on the Department’s website. In 2014, TDI’s Biennial Report highlighted issues concerning such topics as Commercial Group Property Insurance, Fraud Prevention, Own Risk Solvency Assessment (ORSA), Agent and Adjuster License issues, and Captives.