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Texas Insurance Code - INS § 441.155. Reinsurance During Conservatorship

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

(a) If during a conservatorship it appears that the interest of the insurer's policyholders or certificate holders is best protected by reinsuring the policies or certificates, the conservator may, with the approval of or at the direction of the commissioner:

(1) reinsure all or part of the insurer's policies or certificates with a solvent insurer authorized to engage in business in this state;  and

(2) to the extent that the insurer has reserves attributable to the reinsured policies or certificates, transfer to the reinsurer reserves in an amount sufficient to reinsure the policies or certificates.

(b) A transfer of reserves under this section may not be considered a preference of a creditor.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 441.155. Reinsurance During Conservatorship - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-441-155/

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