Texas Insurance Code

§ 981.0033 — INDUSTRIAL INSURED DEFINED

IN § 981.0033Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part I. SURPLUS LINES INSURERS; COMPANIES NOT ORGANIZED IN TEXAS · Ch. 981. SURPLUS LINES INSURANCE · Art. A. GENERAL PROVISIONS

Statute text

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For purposes of this chapter, "industrial insured" means a person who purchases commercial insurance and, at the time of placement:

(1)employs or retains a qualified risk manager to negotiate insurance coverage; and

(2)either:

(A)has paid aggregate nationwide commercial property and casualty insurance premiums of more than $25,000 in the immediately preceding 12 months; or

(B)employs at least 25 full-time employees.

Legislative history

Added by Acts 2017, 85th Leg., R.S., Ch. 92 (H.B. 1559), Sec. 1, eff. September 1, 2017.