Texas Department of Insurance

Helping Texans with their auto, commercial and residential property insurance needs.

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Brief History of the Texas Homeowners Market, 1993 - Present

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In 1993, Texas moved from a promulgated rate framework to a Benchmark system to regulate homeowners insurance rates ( see: Homeowners Insurance Regulation: Past and Present). Under the Benchmark system, also known as a "flex band" system, a base rate was promulgated each year by the Commissioner of Insurance. Insurers could file and use a new rate as long as it was within +/- 30% of the promulgated rate; above or below 30% would require prior approval from the department. An important exception to this rate regulation system was that Lloyds and reciprocal exchange type companies, which had historically written high risk business, were exempt from rate regulation.


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