Section 3.302 - Policy Form Submission(a) No indeterminate premium reduction policy may be approved for use in Texas unless the insurer files with the Texas Department of Insurance in conjunction with such indeterminate premium reduction policy a statement: (1) that, to the best of its knowledge and belief, the policy submitted is in compliance with this subchapter;(2) that advertising and solicitation will be in compliance with this subchapter;(3) that any premium redetermination will not reflect a distribution of company surplus nor a return of previously collected premiums; and(4) that any nonguaranteed premium rates used to market the policy are lower than rates which the insurer is willing to guarantee in a fixed premium policy with the same or similar benefits for insureds of essentially the same class of risk.(b) A nonguaranteed premium means any charge for insurance, including any percentage deviation from a maximum charge, that an insurer or insurance agent mentions or illustrates as a possible charge for coverage other than the maximum guaranteed premium specified in the policy.28 Tex. Admin. Code § 3.302
The provisions of this §3.302 adopted to be effective May 8, 1980, 5 TexReg 1579; Amended by Texas Register, Volume 47, Number 18, May 6, 2022, TexReg 2759, eff. 5/11/2022