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Texas Insurance Code - INS § 1551.215. Accounting by Carrier Providing Purchased Coverage

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A carrier providing a coverage purchased under this chapter shall provide an accounting to the board of trustees not later than the 90th day after the end of each plan year.

(b) The accounting must be in a form approved by the board of trustees.

(c) The accounting must state for the period from the coverage's date of issue to the end of the plan year:

(1) the amounts of contributions accrued under the coverage;

(2) the total of mortality and other claims, charges, losses, and expenses incurred;  and

(3) the amounts of the carrier's allowance for a reasonable profit and contingencies.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 1551.215. Accounting by Carrier Providing Purchased Coverage - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-1551-215/

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