Texas Insurance Code

§ 463.260 — LIMITS ON AND TERMINATION OF ASSOCIATION OBLIGATION

IN § 463.260Title 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)The association is not liable for benefits that exceed the contractual obligations for which the insurer is liable or would have been liable if not impaired or insolvent. The association has no obligation to provide benefits outside the express written terms of the policy or contract, including:

(1)claims based on marketing materials;

(2)claims based on side letters, riders, or other documents that were issued without meeting applicable policy form filing or approval requirements;

(3)claims based on misrepresentation of or regarding policy benefits;

(4)extracontractual claims; or

(5)claims for penalties or consequential or incidental damages.

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Legislative history

Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 3B.018(d), eff. September 1, 2007. Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 9.018(d), eff. September 1, 2007. Acts 2019, 86th Leg., R.S., Ch. 432 (S.B. 1153), Sec. 22, eff. September 1, 2019.