Sec. 493.1037. CERTIFICATION BY NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS. If an applicant for certification has been certified as a reinsurer in a National Association of Insurance Commissioners accredited jurisdiction:
(1) the commissioner may make a determination to defer to the accredited jurisdiction's certification and the financial strength rating assigned by that jurisdiction; and
(2) if the commissioner makes the determination authorized by Subdivision (1), the applicant shall be considered to be a certified reinsurer in this state.
Added by Acts 2017, 85th Leg., R.S., Ch. 594 (S.B. 1070), Sec. 2.05, eff. September 1, 2017.
Structure Texas Statutes
Title 4 - Regulation of Solvency
Chapter 493 - Authorized Reinsurance; Credit and Accounting
Subchapter C. Credit for Reinsurance
Section 493.101. Exclusive Procedure for Taking Credit for Reinsurance
Section 493.102. Credit for Reinsurance Generally
Section 493.103. Accredited Reinsurer
Section 493.1033. Credit Allowed for Certain Certified Reinsurers
Section 493.1034. Certain Associations May Be Certified Reinsurers
Section 493.1035. Qualified Jurisdictions
Section 493.1036. Requirements for Certified Reinsurer
Section 493.1037. Certification by National Association of Insurance Commissioners
Section 493.1038. Suspension or Revocation of Accreditation or Certification; Inactive Status
Section 493.1039. Concentration Risk
Section 493.104. Credit for Funds Securing Reinsurance Obligations
Section 493.105. Acceptability of Certain Letters of Credit
Section 493.106. Credit for Reinsurance: Direct Payment on Liability Required
Section 493.107. Request for Information From Assuming Insurer
Section 493.108. Credit Allowed for Certain Eligible Assuming Insurers