Texas Insurance Code

§ 402.103 — CONDITIONS UNDER WHICH REPORT CONCERNING NONRENEWAL, CANCELLATION, OR REVISION NOT REQUIRED

IN § 402.103Title 4. REGULATION OF SOLVENCY · Part A. GENERAL PROVISIONS · Ch. 402. DISCLOSURE OF MATERIAL TRANSACTIONS · Art. C. NONRENEWAL, CANCELLATION, AND REVISION

Statute text

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An insurer or health maintenance organization is not required to file a report under Section 402.002 if the insurer's or health maintenance organization's ceded written premium of the total reserve credit taken for business ceded is, on an annual basis, less than an amount equal to:

(1)10 percent of direct and assumed written premiums; or

(2)10 percent of the statutory reserve requirement before a cession.

Legislative history

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.