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Regulatory Update: Texas Auto Insurance Bill; Michigan Health Ministry Action

Texas auto insurers are dealing with impactful changes and regulators are taking action against a Michigan health ministry.
  • October 2021
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AUTO INSURANCE: Automobile insurers with a small slice of the Texas market will no longer be allowed to file rates without actuarial support.

A bill passed by the Legislature and signed by Gov. Greg Abbott in May closes a loophole that allows companies that write less than 3.5% of the personal auto liability market to file rates without actuarial support.

The law, which became effective Sept. 1, also tightens restrictions on insurers that write residential property coverage without actuarial support.

The Texas Office of Public Insurance Counsel supported the amendments, saying the exemptions limit its and the Texas Department of Insurance's ability to monitor those insurers' rates for compliance with state law.

HEALTH INSURANCE: Michigan insurance regulators have ordered a health-sharing ministry and companies that provide its business services to cease operations for allegedly acting like an insurance company without permission.

The action was filed against the Aliera Cos. and Sharity Healthshare Inc., formerly known as Trinity Healthshare, and a third associated business, Ensurian. Sharity recently filed for Chapter 11 bankruptcy protection, saying it could not pay members' “sharing requests” or provide service of any kind to its members.

The health-sharing ministry and associated companies have been entangled in legal disputes with states including New York, Washington, Texas, Maryland, Colorado, New Hampshire and Connecticut.

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