Texas Insurance Code Title 6, Chapter 862 - Fire And Marine Insurance Companies

SUBCHAPTER A REGULATION OF FIRE AND MARINE INSURANCE COMPANIES

• Texas Section 862.001 - Annual Statement
  (a) Each year the president or vice president and the secretary of a fire, marine, or inland marine insurance company shall: (1) prepare under oath...
• Texas Section 862.002 - Prohibitions Relating To Holding Real Property; Exceptions
  (a) A fire, marine, or inland marine insurance company may not purchase, hold, or convey real property, except as provided by Subsections (b) and (c)....

SUBCHAPTER B INSURANCE COVERAGE PROVIDED BY FIRE AND MARINE INSURANCE COMPANIES

• Texas Section 862.003 - Admitted Assets
  The value of the property of the company shown on the report as determined under Section 862.001 and the rules adopted by the commissioner adopted...
• Texas Section 862.051 - Kinds Of Insurance Authorized
  On filing notice of its intent with the department, an insurance company engaged in the business of insurance in this state under an appropriate certificate...
• Texas Section 862.052 - Prohibitions Relating To Life Insurance And Life Insurance Companies
  (a) An insurance company authorized by its charter to write fire, marine, lightning, tornado, or inland marine insurance in this state may not write life...
• Texas Section 862.053 - Fire Insurance: Total Loss Of Real Property
  (a) A fire insurance policy, in case of a total loss by fire of property insured, shall be held and considered to be a liquidated...
• Texas Section 862.054 - Fire Insurance: Breach By Insured; Personal Property Coverage
  Unless the breach or violation contributed to cause the destruction of the property, a breach or violation by the insured of a warranty, condition, or...

SUBCHAPTER C REINSURANCE AND RESERVES

• Texas Section 862.055 - Fire Insurance: Interest Of Mortgagee Or Trustee
  (a) The interest of a mortgagee or trustee under a fire insurance contract covering property located in this state may not be invalidated by: (1)...
• Texas Section 862.101 - Fire And Allied Lines Of Insurance: Authorized And Required Reinsurance
  (a) In this section, "fire and allied lines of insurance" has the meaning assigned by statute, rules adopted by the commissioner, or lawful custom. (b)...
• Texas Section 862.102 - Reinsurance Or Reserves Required For Fire Insurance
  (a) An insurance company writing fire insurance in this state shall maintain reinsurance or unearned premium reserves on its policies in force. (b) The commissioner...
• Texas Section 862.103 - Reinsurance Or Reserves Required For Home Warranty Insurance Companies
  (a) An insurance company writing home warranty insurance in this state shall maintain reinsurance or unearned premium reserves on its policies in force. (b) Reserves...

SUBCHAPTER D IMPAIRMENT OF SURPLUS

• Texas Section 862.104 - Reserves Required For Ocean And Inland Marine Trip Insurance Companies
  The total of the premiums on ocean and inland marine trip insurance risks not terminated is considered to be unearned, and the insurance company shall...
• Texas Section 862.151 - Reduction Of Capital Stock And Par Value Of Shares
  (a) If the minimum surplus of a fire, marine, or inland marine insurance company is impaired in excess of the amount permitted under Subchapter B,...
• Texas Section 862.152 - Making Good On Impairment
  (a) This section applies to a fire, marine, or inland marine insurance company that receives notice from the commissioner under Subchapter B, Chapter 404, to...
• Texas Section 862.153 - Failure Of Shareholder To Pay
  (a) If a shareholder of the insurance company who is given notice under Section 862.152 does not pay the amount called for by the company...
• Texas Section 862.154 - Creation And Disposal Of New Stock
  (a) A fire, marine, or inland marine insurance company that complies with Sections 822.155, 822.157, and 822.158 may: (1) create new stock; (2) dispose of...

Last modified: September 28, 2016