Sec. 981.0033. INDUSTRIAL INSURED DEFINED. For purposes of this chapter, "industrial insured" means a person who purchases commercial insurance and, at the time of placement:
(1) employs or retains a qualified risk manager to negotiate insurance coverage; and
(2) either:
(A) has paid aggregate nationwide commercial property and casualty insurance premiums of more than $25,000 in the immediately preceding 12 months; or
(B) employs at least 25 full-time employees.
Added by Acts 2017, 85th Leg., R.S., Ch. 92 (H.B. 1559), Sec. 1, eff. September 1, 2017.
Structure Texas Statutes
Title 6 - Organization of Insurers and Related Entities
Subtitle I - Surplus Lines Insurers; Companies Not Organized in Texas
Chapter 981 - Surplus Lines Insurance
Subchapter A. General Provisions
Section 981.003. Applicability of Chapter
Section 981.0031. Exempt Commercial Purchaser Defined
Section 981.0032. Qualified Risk Manager Defined
Section 981.0033. Industrial Insured Defined
Section 981.004. Surplus Lines Insurance Authorized
Section 981.005. Validity of Contracts
Section 981.007. Liability of Surplus Lines Insurer for Losses and Unearned Premiums