March 26, 2007
TO: ALL INSURERS SUBMITTING NEW LIFE, ANNUITY, CREDIT, OR ACCIDENT AND HEALTH INSURANCE FILINGS IN THE STATE OF TEXAS
RE: VOLUNTARY PRODUCT CHECKLIST PILOT PROJECT
As a part of the ongoing effort to speed the filing review process, the Life/Health Division is instituting a voluntary product checklist pilot project. Product checklists completed in accordance with the instructions below will assist the Life/Health Division's staff in the timely processing and completion of filings.
Pilot project participation is restricted to initial filings of life, annuity, credit, or accident & health insurance (including long term care and Medicare supplement). Resubmissions, corrections and failed audit filings are not eligible to participate. The pilot project begins April 1, 2007, and ends with filings received on or before Friday, September 28, 2007, unless otherwise determined by the Department. The pilot program does not alter any Texas Insurance Code or Texas Administrative Code requirements applicable to filings made under the pilot project.
Incentives
To encourage participation and to determine the effectiveness of the pilot project, the Texas Department of Insurance will evaluate the project with the following scale:
(1) Waiver of the "10 objections disapproval letter": The Life/Health Division sends a notice of action letter proposing disapproval on forms that contain ten or more objections. During this pilot period, this procedure will be waived for participants using the product checklist as specified below. This waiver does not in any way affect filing requirement timelines.
(2) Rapid Review of Filing: The Life/Health Division will give preference to pilot project filings and will strive to review pilot project filings as quickly as possible.
Instructions for Participation
§ Filers must state in the cover letters submitted with filings that they are participating in the voluntary product checklist pilot project.
§ Filers must attach the properly noted applicable product checklist or checklists for the product being submitted.
§ Filers must indicate the policy/contract page number(s), section heading, or document within the filing, that satisfies each requirement on the appropriate product checklist(s).
§ Certain checklist requirements, such as prohibited provisions, will not have a corresponding page number in the filing. In such instances, filers should place a symbol (asterisk or number sign) next to requirements and footnote at the end of the form that the item is not required to be included in the form.
§ Filers must comply with the requirements of the filing rules as outlined in 28 Texas Administrative Code Chapter 3, Subchapter A.
§ Filers must be diligent about paying filing fees promptly as the Department places a hold on insurers who have an invoice that becomes past due 120 days or more and their filings are rejected.
All checklists to be used may be found on the Department Website at the link below: http://www.tdi.state.tx.us/forms/form10.html.Questions regarding this bulletin, the pilot program or the checklist may be directed to the Life/Health Division by phone at 512/322-3401 or by email to LIFEHEALTH@tdi.state.tx.us.
Jennifer Ahrens
Associate Commissioner
Life, Health & Licensing
For more information, contact:
Last updated: 01/06/2025
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