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Texas Insurance Code - Section 491.003. Risk Limitation For Domestic Or Foreign Insurer

Legal Research Home > Texas Lawyer > Insurance Code > Texas Insurance Code - Section 491.003. Risk Limitation For Domestic Or Foreign Insurer

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§ 491.003. RISK LIMITATION FOR DOMESTIC OR FOREIGN INSURER. An insurer incorporated under the laws of this state, another state, or the United States and authorized to engage in business in this state may not expose itself to a loss or hazard on a single risk in an amount that exceeds 10 percent of the insurer's surplus for policyholders unless the insurer reinsures the excess in another solvent insurer. Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.

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Last modified: August 11, 2007