Sec. 2551.3055. REINSURANCE FROM INSURER OTHER THAN TITLE INSURER. Notwithstanding any other provision of this subchapter, a title insurance company may obtain reinsurance by a reinsurance treaty or other reinsurance agreement from an assuming insurer with a financial strength rating of B+ or better from the A. M. Best Company, which reinsurance meets the requirements of Subchapter C, Chapter 493, if the title insurance company has provided the department with notice that:
(1) contains representations that the title insurance company was unable after diligent effort to procure sufficient reinsurance from another title insurance company; and
(2) summarizes the terms of the reinsurance treaty or other reinsurance agreement that the title insurance company will obtain.
Added by Acts 2015, 84th Leg., R.S., Ch. 38 (S.B. 572), Sec. 3, eff. September 1, 2015.
Last modified: September 28, 2016