Texas Insurance Code

§ 542.051 — DEFINITIONS

IN § 542.051Title 5. PROTECTION OF CONSUMER INTERESTS · Part C. DECEPTIVE, UNFAIR, AND PROHIBITED PRACTICES · Ch. 542. PROCESSING AND SETTLEMENT OF CLAIMS · Art. B. PROMPT PAYMENT OF CLAIMS

Statute text

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In this subchapter:

(1)"Business day" means a day other than a Saturday, Sunday, or holiday recognized by this state.

(2)"Claim" means a first-party claim that:

(A)is made by an insured or policyholder under an insurance policy or contract or by a beneficiary named in the policy or contract; and

(B)must be paid by the insurer directly to the insured or beneficiary.

(3)"Claimant" means a person making a claim.

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Legislative history

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.