Post-Election Briefing Call
Early voting ends today in Texas ahead of the November 6 election. Join us on Wednesday, November 7 at noon Central time, when Mike and Shannon Meroney will lead a call to discuss the Texas election results and what they may mean for the upcoming legislative session. To call in, dial 1-605-475-6006 and use code 176-1976#.

ICYMI: TDI Proposed Maintenance Tax & Overhead Assessment Rates
The TDI staff met last week to release their proposed maintenance tax rates for 2019. The life/health rate will be the same at 0.0040. This is the maximum rate allowed by law. Of interest is the fact that the TDI estimates current revenue required to regulate life/health insurance. This is estimated to be $21,973,809. This includes allocation of actual TDI direct expenses for life/health such as policy form approval, financial analysis, legal, consumer complaints, and indirect allocations for Commissioner, Comptroller, and Attorney General. At the maximum rate, TDI estimates it will collect $18,794,640. This $3,179,169 difference is expressed as a shortfall. Other lines of business such as property/casualty and title make up this difference for funding. The good news is that this shortfall is less than in previous years because of increasing revenues in the life/health line.

One other item of interest for TALHI members is the overhead assessment rates. These rates fund the financial division and are paid by Texas domestic insurers and a foreign insurer if they are subjected to an examination. These rates are projected to increase because TDI did not participate in any examinations of foreign insurers.

More information on these proposed changes is available here.

Next Member Call
The next member call will take place Wednesday, November 14, at 10 am Central. To call in, dial 1-888-537-7715 and enter code 200-68-174# when prompted. The agenda will be posted on both the website and mobile app prior to the call.