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Texas Insurance Code - INS § 2551.251. Statutory Premium Reserve Required

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

(a) Each domestic title insurer shall establish and maintain a statutory premium reserve. The reserve is cumulative. The reserve must consist of the amounts required under Sections 2551.252-2551.260 and must be established and maintained during the period and for the uses and purposes provided by those sections.

(b) The reserve required under this section:

(1) is considered to be unearned portions of the original premium; and

(2) must be charged as a reserve liability of the title insurer in determining the insurer's financial condition.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2551.251. Statutory Premium Reserve Required - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2551-251/

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