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Texas Insurance Code - INS § 884.501. Direct Reinsurance Agreements Between Stipulated Premium Companies

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

(a) Stipulated premium companies organized under this chapter may enter into a total or partial direct reinsurance agreement if the company assuming the policies under the agreement is authorized to transact the kinds of insurance provided by those policies.

(b) Before a stipulated premium company may enter into a total direct reinsurance agreement:

(1) the company must submit the agreement to the department;  and

(2) the department must approve the agreement as fully protecting the interests of all the holders of policies being assumed.

(c) A partial direct reinsurance agreement shall be filed with the department before the effective date of the agreement.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 884.501. Direct Reinsurance Agreements Between Stipulated Premium Companies - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-884-501/

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