Office of Public Insurance Counsel (OPIC) Assessment
Who is responsible for this assessment?
All insurers and health maintenance organizations (HMOs) that are licensed by the Texas Department of Insurance must pay this assessment to defray the costs of creating, administering and operating the Office of Public Insurance Counsel (OPIC).
Property and casualty insurers: $.057 per policy in force in Texas at year end.
Life, accident, and health insurers, including HMOs: $.057 per initial policy or certificate of insurance evidencing coverage under a group policy that is written for delivery and placed in force during the year and for which the initial premium is paid in full.
Title insurers: $.057 for each owner and mortgage policy that is written for delivery in Texas during the calendar year and for which the full basic premium is charged.
Yearly: March 1 following the end of the calendar year (for example, March 1, 2015, for policies written in 2014).
Penalties and Interest
If tax is paid 1-30 days after the due date, a 5 percent penalty is assessed.
If tax is paid over 30 days after the due date, a 10 percent penalty is assessed.
Past due taxes are charged interest beginning 61 days after the due date.