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Texas Insurance Code - INS § 463.264. Reinsurance

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

(a) The association may elect to succeed to the rights of an insolvent insurer under a contract of reinsurance to which the insolvent insurer is a party to the extent:

(1) of the contractual obligations of the covered policies for which the association may become obligated;  and

(2) that the reinsurance contract provides coverage for losses occurring after the association is obligated to provide coverage.

(b) As a condition to making an election under Subsection (a), the association shall pay all unpaid premiums due under the reinsurance contract to which Subsection (a) refers for coverage relating to a period before and after the date the association is obligated to provide coverage.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 463.264. Reinsurance - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-463-264/

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