Which statement best describes the 60-day filing rule?

Which statement best describes the 60-day filing rule?

• A. It applies only to life insurance
• B. It requires approval and filing of policy forms, endorsements and rates no more than 60 days before use
• C. It requires only rates to be filed
• D. It allows indefinite delay

Answer: (B)

The 60-day filing rule is about regulatory review before use. It requires that policy forms, endorsements, and rates be filed with and approved by the Texas Department of Insurance no more than 60 days before they’re used. This window ensures the regulator has time to review for compliance and prevents the insurer from rolling out unapproved forms or rates. It applies broadly to property and casualty lines (not just life), and it covers both forms and rates, not just rates. It also prevents indefinite delays because filings must occur within that 60-day window before use.

The 60-day filing rule is about regulatory review before use. It requires that policy forms, endorsements, and rates be filed with and approved by the Texas Department of Insurance no more than 60 days before they’re used. This window ensures the regulator has time to review for compliance and prevents the insurer from rolling out unapproved forms or rates. It applies broadly to property and casualty lines (not just life), and it covers both forms and rates, not just rates. It also prevents indefinite delays because filings must occur within that 60-day window before use.