Rates

When rates differ by sex or marital status, the insurer may be required to justify that the differential equitably reflects the difference in the risk assumed. Rates shall be based on a reasonable classification system according to actual or expected loss and expense data where available. In the absence of actual loss and expense data, rates must be based upon reasonable actuarial assumptions. Rates may differ by sex or marital status when approved or promulgated by the board.

Source Note: The provisions of this §21.406 adopted to be effective January 1, 1978, 2 TexReg 2843.