Texas Insurance Code

§ 463.256 — ALTERNATIVE POLICY

IN § 463.256Title 4. REGULATION OF SOLVENCY · Part D. GUARANTY ASSOCIATIONS · Ch. 463. TEXAS LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION · Art. F. POWERS AND DUTIES OF ASSOCIATION RELATING

Statute text

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(a)An alternative policy issued by the association must:

(1)be approved by the commissioner;

(2)provide coverage of a kind that the association determines is similar to the coverage of the policy issued by the impaired or insolvent insurer;

(3)contain at least the minimum provisions required by the statutes of this state; and

(4)provide benefits that are not unreasonable in relation to the premium charged.

(b)The association shall set the premium according to a table of rates the association adopts. The premium:

…

Legislative history

Acts 2019, 86th Leg., R.S., Ch. 432 (S.B. 1153), Sec. 20, eff. September 1, 2019.