Sec. 462.002. PURPOSES. The purposes of this chapter are to: (1) provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment; (2) avoid financial loss to claimants or policyholders because of an insurer's impairment; (3) assist in the detection and prevention of insurer insolvencies; and (4) provide an association to assess the cost of that protection among insurers. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.
Purposes
Tex. Insurance Code § 462.002, under Texas Property and Casualty Insurance Guaranty Association.
Tex. Insurance Code § 462.002