Texas Administrative Code

(a) Purpose. The purpose of this section is to improve the Texas Department of Insurance's surveillance of the financial condition of insurers and HMOs by: (1) specifying the requirements of an annual audit by an accountant of the financial statements reporting the financial cond…

(a) The Local Government Code, Chapter 172, Texas Political Subdivisions Uniform Group Benefits Program, authorizes certain political subdivisions to create risk pools to provide health and accident coverage for political subdivision officials, employees, and retirees. (b) The Lo…

(a) Purpose. The purpose of this section is to enable insurers and HMOs to demonstrate ownership of securities held by a custodian in a manner consistent with the common practices of securities exchanges and markets while protecting the public interest. An insurer or HMO may demo…

(a) Definitions. The following words and terms, when used in this section, will have the following meanings, unless the context clearly indicates otherwise. (1) Accountant--An independent certified public accountant or accounting firm that meets the requirements of Insurance Code…

(a) Purpose. This section governs the frequency of examinations conducted under Insurance Code § 401.052 . The section implements Insurance Code § 401.052(b) , which directs the Commissioner to adopt rules governing the frequency of examinations of carriers that have been organiz…

(a) Purpose and scope. This section implements Insurance Code Chapter 401 which directs the Commissioner to adopt procedures for filing and adoption of examination reports and for hearings to be held under Insurance Code Chapter 401 and guidelines governing orders issued under In…

The board is of the opinion that the provisions for voluntary deposits under Article 1.10, §17, are applicable to deposits required by federal authority and that such deposits are made under the purposes and provisions of such section, and that the statute does not prohibit addit…

In the event any insurance company organized and doing business under the laws of Texas and the provisions of the Insurance Code shall be required by the United States government to have and maintain funds or securities on deposit with the State Board of Insurance, commissioner o…

In addition to the specific standards heretofore enumerated for the approval or disapproval of names, the board hereby adopts and records the following general rules and policies respecting name approval. (1) The provisions of these statutes are not a statutory restatement of the…

If, after giving consideration to each of the matters enumerated in paragraphs (1)-(8) of this section, the commissioner determines that the proposed name is so similar to that of any other insurance company as to be likely to mislead the public, he shall disapprove the name; oth…

(a) Scope. This section specifies the requirements for insurers and other regulated entities for filing the 2007 quarterly statements, 2007 annual statement, 2008 quarterly statement blanks, other reporting forms, and electronic data filings, with the department and the National …

(a) Definitions. The following words and terms, when used in this section, shall have the following meanings, unless the context clearly indicates otherwise. (1) Affiliate or affiliated--Has the same meaning as the term affiliate is used, defined, or applied in the Insurance Code…

(a) Scope. This section specifies the requirements for insurers and other regulated entities for filing the 2006 quarterly statements, 2006 annual statement, other reporting forms, and electronic data filings with the department and the National Association of Insurance Commissio…

(a) Purpose. This section specifies the requirements for insurers and other regulated entities to file the annual statements, the quarterly statements, other reporting forms, and electronic data filings with the department and the National Association of Insurance Commissioners (…

(a) Scope. This section specifies the requirements for insurers and other regulated entities for filing the 2010 annual statement, the 2011 quarterly statements, other reporting forms, and electronic data filings with the department and the National Association of Insurance Commi…

(a) Scope. This section specifies the requirements for insurers and other regulated entities for filing the 2009 annual statement, the 2010 quarterly statements, other reporting forms, and electronic data filings with the department and the National Association of Insurance Commi…

(a) Scope. This section specifies the requirements for insurers and other regulated entities for filing the 2008 annual statement, the 2009 quarterly statements, other reporting forms, and electronic data filings, with the department and the National Association of Insurance Comm…

(a) In addition to those NRSROs listed in § 7.622 (a)(4)(C) of this title, the Commissioner may determine that additional NRSROs are acceptable. An applicant must be an NRSRO and demonstrate to the satisfaction of the Commissioner that the applicant's: (1) rating structure is rel…

In addition to the clauses required under Insurance Code Chapter 493 and this subchapter, a ceding insurer may not enter into or renew a reinsurance agreement with a certified assuming insurer under this subchapter, unless the reinsurance agreement includes a funding clause that …

(a) An assuming insurer that has been certified as an assuming insurer in an NAIC-accredited jurisdiction may apply for certification in Texas under this section. A certification issued under this section is valid for the following calendar year. To continue the certification, th…

(a) If the Commissioner determines that the jurisdiction qualifies to be recognized as a qualified jurisdiction under Insurance Code § 493.1035 and this section, the Commissioner will publish notice of such recognition on the TDI website. The Commissioner may suspend recognition …

(a) In the case of a downgrade by an NRSRO or other negative change to rating criteria, the Commissioner will assign a new rating to the certified assuming insurer in accordance with the requirements of this subchapter and notify the certified assuming insurer in writing. (b) If …

(a) Certification. (1) A certification issued under this section is valid for the following calendar year. To continue the certification, the certified assuming insurer must reapply on or before July 1 of the year that the certification expires. (2) Following receipt of a certifi…

(a) Except as provided under Insurance Code § 493.002(a-1) for certain county mutual insurance companies operating under Insurance Code § 912.056 , an insurer may take credit for reinsurance ceded to an assuming insurer that has been certified as an assuming insurer in this state…

(a) Definitions. The following words and terms have the following meanings when used in this section unless the context clearly indicates otherwise. (1) Actuarial method--the methodology used to determine the required level of primary security under subsection (d) of this section…

(a) The Commissioner, under Insurance Code § 493.108 , concerning Credit Allowed for Certain Eligible Assuming Insurers, shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer that: (1) is licensed to write reinsurance by a reciprocal jurisdiction d…

(a) Information and filings required under this subchapter must be submitted to the Commissioner or TDI on paper or in an electronic format that is acceptable to TDI. TDI will specify acceptable electronic submission formats and methods on the TDI website or the form. (b) TDI ado…

The requirements of this subchapter, as amended, apply to all reinsurance agreements entered into or renewed on or after July 1, 2018, or such earlier date as the parties may agree. Unless the parties have agreed to be covered by the requirements of this subchapter prior to July …

Credit will not be granted to a ceding insurer for reinsurance effected with assuming insurers meeting the requirements of Insurance Code Chapter 493 or otherwise in compliance with this subchapter unless the reinsurance agreement: (1) includes a proper insolvency clause pursuant…

(a) The letter of credit must be clean, irrevocable, and unconditional, and issued or confirmed by a qualified United States financial institution. The letter of credit must contain an issue date and must stipulate that the beneficiary need only draw a draft under the letter of c…

(a) Definitions for this section. The following words and terms, when used in this section, have the following meanings, unless the context clearly indicates otherwise. (1) Beneficiary--The entity for whose benefit the trust has been established; the ceding insurer and any succes…

(a) A ceding insurer domiciled in this state may not take credit for insurance ceded to an insurer that is not authorized in Texas, accredited in Texas, trusteed in Texas, or certified in Texas, except as authorized under Insurance Code § 493.104 . (b) The funds held by or on beh…

(a) Credit for ceded insurance. Pursuant to Insurance Code § 493.102(a)(3) , a ceding insurer may be allowed credit for insurance risk of loss ceded to an assuming insurer that maintains a trust fund in a qualified United States financial institution for the payment of the valid …

(a) An assuming insurer authorized by its state of domicile to assume the kind or kinds of insurance ceded to it, but which is not authorized to transact the business of insurance in this state, may apply for accreditation and such assuming insurer may be referred to as the "appl…

The fees for submitting assumption reinsurance agreements are set forth in § 7.1301 of this title. Notes 28 Tex. Admin. Code § 7.605 The provisions of this §7.605 adopted to be effective August 16, 1990, 15 TexReg 4435; Amended by Texas Register, Volume 43, Number 24, June 15, 20…

(a) An insurer authorized to do the business of insurance in this state must, prior to entering into an assumption reinsurance agreement for its entire outstanding business, submit to TDI the written plan of reinsurance, including the assumption reinsurance agreement, and all nec…

Notwithstanding any other section in this subchapter, an insurer operating under Insurance Code § 841.204 having less than the minimum capital and surplus required for the formation of new companies under Insurance Code § 841.054 is prohibited from ceding an insurance risk of los…

The following words and terms, when used in this subchapter, have the following meanings, unless the context clearly indicates otherwise. (1) Assuming insurer--An insurer as defined in Insurance Code § 493.001 . The term includes an insurer that assumes: (A) the insurance risk of…

(a) This subchapter implements Insurance Code Chapter 493. (b) This subchapter applies to all insurers engaged in the business of ceding and assuming insurance in this state. (c) This subchapter does not apply to the reinsurance of all or part of the liability of a policy of titl…

In accordance with the Insurance Code, Articles 6.02 and 6.12, inland marine and inland marine connected transportation coverages of transit or cargo risks will be reserved at 100% of the premium charged on unexpired risks. The coverages subject to the 100% reserve will ordinaril…

Form Number FIN354, Biographical Affidavit and Fingerprint Requirements, adopted in § 7.507 of this title (relating to Forms Incorporated by Reference), is only required on request from the Texas Department of Insurance. Notes 28 Tex. Admin. Code § 7.508 Adopted by Texas Register…

(a) A form to be used for applications by stock and mutual life insurance companies and entitled "Application for Certificate of Authority to Do Business in the State of Texas" is incorporated herein by reference. A form to be used for applications by stock and mutual fire and ca…

Each application submitted shall be accompanied by a sworn affidavit from the president or secretary of the applicant stating that the matters contained and assertions made in the application are true, correct, and complete. Notes 28 Tex. Admin. Code § 7.506 The provisions of thi…

The applicant is obligated to submit any information requested by the commissioner for the purpose of determining whether the application meets all requirements for admission (see § 7.507 (e) of this title (relating to Forms Incorporated by Reference)). The applicant must satisfy…

(a) The commissioner shall appoint an admissions examiner to review applications for admission. After review, if the admissions examiner can recommend that the application be approved in all respects, the admissions examiner shall prepare and forward to the commissioner a memoran…

Unless precluded by controlling law, if a document is required to be certified and certification is not available, the applicant, in lieu thereof, may submit a certificate of similarity stating under oath that the document submitted therewith is the same as the document required.…

The applicant is required to comply with the following. (1) Fees. Submit such other fees as are required by law. (2) Certificate of authority. The applicant must submit an application for a certificate of authority. The commissioner of insurance will provide forms for this purpos…