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Texas Insurance Code - INS § 462.201. Covered Claims in General

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

A claim is a covered claim if:

(1) the claim is an unpaid claim;

(2) the claim is made under an insurance policy to which this chapter applies that is:

(A) issued by an insurer authorized to engage in business in this state;  or

(B) assumed by an insurer authorized to engage in business in this state that issues an assumption certificate to the insured;

(3) the claim arises out of the policy and is within the coverage and applicable limits of the policy;

(4) the insurer that issued the policy or assumed the policy under an assumption certificate issued to the insured is an impaired insurer;  and

(5) the claim:

(A) is made by a liability claimant or insured who is a resident of this state at the time of the insured event;  or

(B) is a first-party claim for damage to property that is permanently located in this state.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 462.201. Covered Claims in General - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-462-201/

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