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Texas Insurance Code - INS § 2551.3055. Reinsurance from Insurer Other than Title Insurer

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

Notwithstanding any other provision of this subchapter, a title insurance company may obtain reinsurance by a reinsurance treaty or other reinsurance agreement from an assuming insurer with a financial strength rating of B+ or better from the A. M. Best Company, which reinsurance meets the requirements of Subchapter C, Chapter 493, if the title insurance company has provided the department with notice that:

(1) contains representations that the title insurance company was unable after diligent effort to procure sufficient reinsurance from another title insurance company;  and

(2) summarizes the terms of the reinsurance treaty or other reinsurance agreement that the title insurance company will obtain.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 2551.3055. Reinsurance from Insurer Other than Title Insurer - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-2551-3055/

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