Sec. 462.006. NET DIRECT WRITTEN PREMIUMS. (a) Except as provided by Subsection (b) and subject to Subsection (c), in this chapter, "net direct written premiums" means direct premiums written in this state on insurance policies to which this chapter applies, less return premiums on those policies and dividends paid or credited to policyholders on that direct business.
(b) Subject to Subsection (c), for assessing the workers' compensation line of business, the term "net direct written premiums" includes the modified annual premium before the application of a deductible premium credit, less return premiums on those policies and dividends paid or credited to policyholders on that direct business.
(c) The term "net direct written premiums" does not include premiums on contracts between insurers or reinsurers.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Structure Texas Statutes
Title 4 - Regulation of Solvency
Subtitle D - Guaranty Associations
Chapter 462 - Texas Property and Casualty Insurance Guaranty Association
Subchapter A. General Provisions
Section 462.004. General Definitions
Section 462.005. Description of Control
Section 462.006. Net Direct Written Premiums
Section 462.007. Applicability in General; Exceptions
Section 462.008. Applicability to Texas Mutual Insurance Company
Section 462.010. Conflict With Other Laws
Section 462.011. Immunity in General
Section 462.012. Immunity in Relation to Certain Reports and Recommendations
Section 462.013. Immunity in Relation to Certain Negotiations
Section 462.015. Information Provided by or to Commissioner
Section 462.016. Penalty for Failure to Pay Assessments or Comply With Plan of Operation