Sec. 2210.075. REINSURANCE. (a) Before any occurrence or series of occurrences, an insurer may elect to purchase reinsurance to cover an assessment for which the insurer would otherwise be liable under this subchapter.
(b) An insurer must notify the board of directors, in the manner prescribed by the association whether the insurer will be purchasing reinsurance. If the insurer does not elect to purchase reinsurance under this section, the insurer remains liable for any assessment imposed under this subchapter.
Added by Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409), Sec. 16, eff. June 19, 2009.
Amended by:
Acts 2011, 82nd Leg., 1st C.S., Ch. 2 (H.B. 3), Sec. 14, eff. September 28, 2011.
Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 11, eff. September 1, 2015.
Structure Texas Statutes
Title 10 - Property and Casualty Insurance
Subtitle G - Pools, Groups, Plans, and Self-Insurance
Chapter 2210 - Texas Windstorm Insurance Association
Subchapter B. -1. Payment of Losses
Section 2210.071. Payment of Excess Losses
Section 2210.0715. Payment From Reserves and Trust Fund
Section 2210.072. Payment From Class 1 Public Securities; Financial Instruments
Section 2210.0725. Payment From Class 1 Assessments
Section 2210.073. Payment From Class 2 Public Securities
Section 2210.074. Payment Through Class 2 Assessments
Section 2210.0741. Payment Through Class 3 Public Securities