Texas Insurance Code

§ 981.101 — REQUIREMENTS FOR SURPLUS LINES DOCUMENTS

IN § 981.101Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part I. SURPLUS LINES INSURERS; COMPANIES NOT ORGANIZED IN TEXAS · Ch. 981. SURPLUS LINES INSURANCE · Art. C. REQUIREMENTS AND PROCEDURES FOR ISSUANCE OF SURPLUS LINES DOCUMENTS

Statute text

View on source

(a)In this section, "surplus lines document" means each new or renewal insurance contract, certificate, cover note, or other confirmation of insurance obtained and delivered as surplus line coverage under this chapter.

(b)A surplus lines document must state, in 11-point type, the following: This insurance contract is with an insurer not licensed to transact insurance in this state and is issued and delivered as surplus line coverage under the Texas insurance statutes. The Texas Department of Insurance does not audit the finances or review the solvency of the surplus lines insurer providing this coverage, and the insurer is not a member of the property and casualty insurance guaranty association created under Chapter 462, Insurance Code. Chapter 225, Insurance Code, requires payment of a __________ (insert appropriate tax rate) percent tax on gross premium.

(c)A surplus lines document must show:

(1)the description and location of the subject of the insurance;

(2)the coverage, conditions, and term of the insurance;

(3)the premium and rate charged, and premium taxes to be collected from the insured;

…

Legislative history

Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.128, eff. April 1, 2009. Acts 2025, 89th Leg., R.S., Ch. 174 (S.B. 455), Sec. 1, eff. September 1, 2025.