Texas Insurance Code

§ 402.104 — CONTENT OF REPORT CONCERNING MATERIAL NONRENEWALS, CANCELLATIONS, AND REVISIONS

IN § 402.104Title 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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In a report of a material nonrenewal, cancellation, or revision of a ceded reinsurance agreement under Section 402.002, an insurer or health maintenance organization shall disclose:

(1)the effective date of the nonrenewal, cancellation, or revision;

(2)a description of the transaction that identifies the initiator of the transaction;

(3)the purpose of the transaction; and

(4)if applicable, the identity of each replacement reinsurer.

Legislative history

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