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Current as of January 01, 2024 | Updated by FindLaw Staff
(a) The association shall handle claims through:
(1) the association's employees or contract claims adjusters; or
(2) subject to the approval of the commissioner, one or more insurers designated as a servicing facility under a servicing agreement or loss portfolio transfer agreement.
(b) A member insurer may decline designation as a servicing facility.
(c) The association shall reimburse a servicing facility for obligations of the association paid by the facility and expenses incurred by the facility in handling claims for the association. The association shall reimburse a servicing facility under this subsection in a manner that is consistent with the applicable servicing agreement or loss portfolio agreement.
(d) The commissioner may revoke the designation of a servicing facility if the commissioner finds that servicing facility is handling claims unsatisfactorily.
Cite this article: FindLaw.com - Texas Insurance Code - INS § 462.304. Servicing Facility - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-462-304/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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