Texas Insurance Code

§ 491.003 — RISK LIMITATION FOR DOMESTIC OR FOREIGN INSURER

IN § 491.003Title 4. REGULATION OF SOLVENCY · Part F. REINSURANCE · Ch. 491. GENERAL REINSURANCE REQUIREMENTS · Art. A. REINSURANCE

Statute text

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An insurer incorporated under the laws of this state, another state, or the United States and authorized to engage in business in this state may not expose itself to a loss or hazard on a single risk in an amount that exceeds 10 percent of the insurer's surplus for policyholders unless the insurer reinsures the excess in another solvent insurer.

Legislative history

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