TDI Addresses Catastrophe Data Collection
After receiving feedback from the industry, the Texas Department of Insurance (TDI) has released new catastrophe data call reporting guidelines.
Under the guidelines, companies are not required to report data until TDI has activated its catastrophe data call for a specific event. The data call only applies to certain licensed and surplus lines companies, and whether a company is required to report data depends on that company’s Texas written premiums for the prior year.
Eligible surplus lines insurers will be required to report on the following lines of business: commercial property (other than business interruption), business interruption, commercial automobile physical damage, private flood insurance, and all other lines of insurance (with some exclusions). Submissions are due 15 days after the applicable reporting date.