Texas Insurance Code - Section 402.101. Nonrenewals, Cancellations, And Revisions Considered Material
Legal Research Home >
Texas Lawyer > Insurance Code > Texas Insurance Code - Section 402.101. Nonrenewals, Cancellations, And Revisions Considered Material
§ 402.101. NONRENEWALS, CANCELLATIONS, AND REVISIONS
CONSIDERED MATERIAL. For purposes of this chapter, a nonrenewal,
cancellation, or revision of a ceded reinsurance agreement is
material if, on an annual basis, a reported in an insurer's or
health maintenance organization's most recent statutory statement
filed with the department, the nonrenewal, cancellation, or
revision affects:
(1) for property and casualty business, including
accident and health business when written as property and casualty
business, more than 50 percent of the insurer's or health
maintenance organization's ceded written premium; or
(2) for life, annuity, and accident and health
business, more than 50 percent of the total reserve credit taken for
business ceded by the insurer or health maintenance organization.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 402.002 402.003 402.004 402.005 402.051 402.052 402.053 402.101 402.102 402.103 402.104 403.001 403.002 403.051 403.052
Last modified: August 11, 2007
|
