reglab/housing_qa huggingface dataset:
TX Ins Code § 827.008 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 827 - Withdrawal and Restriction Plans|Section 827.008. Restriction Plan

Sec. 827.008.  RESTRICTION PLAN.  (a)  Before an insurer, in response to a catastrophic natural event that occurred during the preceding six months, may restrict writing new business in a rating territory in a line of personal automobile or residential property insurance, the insurer must file a proposed restriction plan with the commissioner for the commissioner's review and approval.(b)  The commissioner may modify, restrict, or limit a restriction plan under this section as necessary if the commissioner finds that a line of insurance subject to the restriction plan is not offered in this state in a quantity or manner to adequately cover the risks in this state or to adequately protect the residents of this state and policyholders in this state in light of the impact of the catastrophic natural event.  The commissioner may by order set the date on which the insurer's restriction begins.(c)  A withdrawal plan must be filed and approved under Sections 827.003 and 827.004 if an insurer's decision not to accept new business in a line of personal automobile or residential property insurance results in a reduction of the insurer's total annual premium volume by 50 percent or more.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.  Amended by Acts 2003, 78th Leg., ch. 206, Sec. 10.05, eff. June 11, 2003.|
TX Ins Code § 827.009 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 827 - Withdrawal and Restriction Plans|Section 827.009. Deposit of Securities

Sec. 827.009.  DEPOSIT OF SECURITIES.  Under this chapter, the commissioner may require the deposit of securities in this state in trust in the name of the commissioner if the commissioner determines, after notice and hearing, that there is reasonable cause to conclude that the interests of the people of this state are best served by the deposit.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 827.010 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 827 - Withdrawal and Restriction Plans|Section 827.010. Moratorium

Sec. 827.010.  MORATORIUM.  (a)  The commissioner may impose a moratorium of not longer than two years on:(1)  the approval of withdrawal plans;  or(2)  the implementation of plans to restrict the writing of new business described by Section 827.008.(b)  A moratorium under this section may be imposed on plans implemented after the commissioner has published notice of intention to impose a moratorium on plans under Subsection (a)(2).(c)  The commissioner may annually renew a moratorium imposed under this section.(d)  To impose or renew a moratorium under this section, the commissioner must determine, after notice and hearing, that a catastrophic event has occurred and that as a result of that event a particular line of insurance is not reasonably expected to be available to a substantial number of policyholders or potential policyholders in this state or, in the case of lines of personal automobile or residential property insurance, in a rating territory.(e)  The provisions of Chapter 2001, Government Code, relating to contested cases apply to the notice and hearing.(f)  The commissioner by rule shall establish reasonable criteria for applying the standards for determining whether to impose a moratorium under this section.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.  Amended by Acts 2003, 78th Leg., ch. 206, Sec. 10.06(a), eff. June 11, 2003.|
TX Ins Code § 827.011 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 827 - Withdrawal and Restriction Plans|Section 827.011. Rules

Sec. 827.011.  RULES.  The commissioner shall adopt rules as necessary to enforce this chapter.|Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.|
TX Ins Code § 830.001 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 830 - Own Risk and Solvency Assessment|Section 830.001. Applicability and Purpose

Sec. 830.001.  APPLICABILITY AND PURPOSE.  (a)  This chapter applies to each domestic insurer unless exempt under Section 830.006.(b)  The purpose of this chapter is to provide the requirements for maintaining a risk management framework and completing an own risk and solvency assessment and to provide guidance and instructions for filing an own risk and solvency assessment summary report with the commissioner.(c)  The own risk and solvency assessment summary report will contain confidential and sensitive information related to an insurer or insurance group's identification of risks material and relevant to the insurer or insurance group filing the report.  This information will include proprietary and trade secret information that has the potential for harm and competitive disadvantage to the insurer or insurance group if the information is made public.  The summary report is a confidential document filed with the commissioner, and the commissioner may share the summary report only as stated in this chapter in order to assist the commissioner in the performance of the commissioner's duties.  An own risk and solvency assessment summary report is not subject to public disclosure in any event.|Added by Acts 2015, 84th Leg., R.S., Ch. 39 (S.B. 655), Sec. 1, eff. May 19, 2015.|
TX Ins Code § 830.002 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 830 - Own Risk and Solvency Assessment|Section 830.002. Definitions

Sec. 830.002.  DEFINITIONS.  In this chapter:(1)  "Guidance manual" means the version of the Own Risk and Solvency Assessment Guidance Manual developed and adopted by the National Association of Insurance Commissioners that is in effect at the time a summary report is provided.  A change in the guidance manual becomes effective on the January 1 following the calendar year in which the changes are adopted by the National Association of Insurance Commissioners.(2)  "Insurance group" means the insurers and affiliates included within an insurance holding company system as described by Section 823.006.(3)  "Insurer" has the meaning assigned by Section 823.002(6).(4)  "Own risk and solvency assessment" means a confidential internal assessment, appropriate to the nature, scale, and complexity of an insurer or insurance group, conducted by that insurer or insurance group, of the material and relevant risks associated with the insurer or insurance group's current business plan and the sufficiency of capital resources to support those risks.(5)  "Summary report" means a confidential, high-level summary of an insurer's or insurance group's own risk and solvency assessment.|Added by Acts 2015, 84th Leg., R.S., Ch. 39 (S.B. 655), Sec. 1, eff. May 19, 2015.|
TX Ins Code § 830.003 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 830 - Own Risk and Solvency Assessment|Section 830.003. Risk Management Framework

Sec. 830.003.  RISK MANAGEMENT FRAMEWORK.  An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on the insurer's material and relevant risks.  This requirement may be satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer.|Added by Acts 2015, 84th Leg., R.S., Ch. 39 (S.B. 655), Sec. 1, eff. May 19, 2015.|
TX Ins Code § 830.004 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 830 - Own Risk and Solvency Assessment|Section 830.004. Own Risk and Solvency Assessment Requirement

Sec. 830.004.  OWN RISK AND SOLVENCY ASSESSMENT REQUIREMENT.  (a)  Subject to Section 830.006, an insurer, or the insurance group of which the insurer is a member, shall regularly conduct, consistent with a process comparable to the guidance manual, an own risk and solvency assessment, appropriate to the nature, scale, and complexity of the insurer or insurance group, of the material and relevant risks associated with the insurer's or insurance group's current business plan and the sufficiency of capital resources to support those risks.(b)  The insurer, or the insurance group of which the insurer is a member, shall conduct the own risk and solvency assessment described by Subsection (a):(1)  annually; and(2)  at any other time there are significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member.|Added by Acts 2015, 84th Leg., R.S., Ch. 39 (S.B. 655), Sec. 1, eff. May 19, 2015.|
TX Ins Code § 830.005 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 830 - Own Risk and Solvency Assessment|Section 830.005. Summary Report Required

Sec. 830.005.  SUMMARY REPORT REQUIRED.  (a)  On the commissioner's request, an insurer shall submit to the commissioner a summary report or a combination of reports that together contain the information described in the guidance manual.  The commissioner may not make a request under this subsection more than once each year.(b)  Without regard to whether the commissioner has made a request under Subsection (a), if the insurer is a member of an insurance group, the insurer shall submit to the commissioner the reports required by Subsection (a) if the commissioner is the lead state commissioner of the insurance group.(c)  In determining the lead state commissioner for purposes of this section, the commissioner shall consider the procedures adopted by the National Association of Insurance Commissioners.(d)  The reports must include a signature of the insurer's or insurance group's chief risk officer or other executive responsible for the oversight of the insurer's enterprise risk management process attesting to the best of the officer's or executive's belief and knowledge that:(1)  the insurer applies the enterprise risk management process described in the summary report; and(2)  a copy of the report has been provided to the insurer's board of directors or the appropriate committee of the board of directors.(e)  An insurer may comply with Subsection (a) or (b) by providing the most recent and substantially similar report that the insurer or another member of an insurance group of which the insurer is a member provided to the commissioner of another state or to a supervisor or regulator of a foreign jurisdiction, if that report provides information that is comparable to the information described in the guidance manual.  A report in a language other than English must be accompanied by a translation of that report into the English language.|Added by Acts 2015, 84th Leg., R.S., Ch. 39 (S.B. 655), Sec. 1, eff. May 19, 2015.|
TX Ins Code § 830.007 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 830 - Own Risk and Solvency Assessment|Section 830.007. Contents of Summary Report

Sec. 830.007.  CONTENTS OF SUMMARY REPORT.  (a)  An insurer shall prepare a summary report in accordance with the guidance manual and subject to the requirements of Subsection (b).  An insurer shall maintain documentation and supporting information and shall make the documentation and supporting information available on examination or on request of the commissioner.(b)  When reviewing the summary report or making requests for additional information, the department shall use procedures similar to the procedures currently used in the analysis and examination of multistate or global insurers and insurance groups.|Added by Acts 2015, 84th Leg., R.S., Ch. 39 (S.B. 655), Sec. 1, eff. May 19, 2015.|
TX Ins Code § 830.009 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 830 - Own Risk and Solvency Assessment|Section 830.009. Agreement Concerning Confidential and Privileged Information

Sec. 830.009.  AGREEMENT CONCERNING CONFIDENTIAL AND PRIVILEGED INFORMATION.  (a)  The commissioner shall enter into a written agreement with the National Association of Insurance Commissioners or a third-party consultant that governs the sharing and use of information provided under this chapter.  The agreement must comply with and contain all the requirements listed in this section.(b)  The agreement must specify procedures and protocols regarding the confidentiality and security of information shared with the National Association of Insurance Commissioners or third-party consultant under this chapter, including procedures and protocols for sharing by the National Association of Insurance Commissioners with other state regulators from states in which the insurance group has domiciled insurers.(c)  The agreement must provide that the recipient:(1)  agrees in writing to maintain the confidential and privileged status of the own risk and solvency assessment-related documents, materials, or other information; and(2)  has verified in writing the legal authority to maintain the confidential and privileged status of the information.(d)  The agreement must specify that ownership of information shared with the National Association of Insurance Commissioners or third-party consultant under this chapter remains with the commissioner and that the National Association of Insurance Commissioners' or third-party consultant's use of the information is subject to the direction of the commissioner.(e)  The agreement must prohibit the National Association of Insurance Commissioners or third-party consultant from storing the information shared under this chapter in a permanent database after the underlying analysis is completed.(f)  The agreement must require prompt notice to be given to an insurer whose confidential information in the possession of the National Association of Insurance Commissioners or third-party consultant under this chapter is subject to a request or subpoena to the National Association of Insurance Commissioners or third-party consultant for disclosure or production.(g)  The agreement must require the National Association of Insurance Commissioners or third-party consultant to consent to intervention by an insurer in any judicial or administrative action in which the National Association of Insurance Commissioners or third-party consultant may be required to disclose confidential information about the insurer shared with the National Association of Insurance Commissioners or third-party consultant under this chapter.(h)  The agreement must provide for the insurer's written consent in the case of an agreement involving a third-party consultant.|Added by Acts 2015, 84th Leg., R.S., Ch. 39 (S.B. 655), Sec. 1, eff. May 19, 2015.|
TX Ins Code § 830.010 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 830 - Own Risk and Solvency Assessment|Section 830.010. Authority of Commissioner Not Affected

Sec. 830.010.  AUTHORITY OF COMMISSIONER NOT AFFECTED.  The commissioner's sharing of information and documents under this chapter does not constitute a delegation of regulatory authority or rulemaking, and the commissioner is solely responsible for the administration, execution, and enforcement of the provisions of this chapter.|Added by Acts 2015, 84th Leg., R.S., Ch. 39 (S.B. 655), Sec. 1, eff. May 19, 2015.|
TX Ins Code § 830.011 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 830 - Own Risk and Solvency Assessment|Section 830.011. Privilege and Confidentiality Not Waived

Sec. 830.011.  PRIVILEGE AND CONFIDENTIALITY NOT WAIVED.  A waiver of an applicable privilege or claim of confidentiality in a document, proprietary and trade-secret materials, or other own risk and solvency assessment-related information does not occur as a result of disclosure of the document, materials, or other information to the commissioner under this chapter or as a result of sharing as authorized by this chapter.|Added by Acts 2015, 84th Leg., R.S., Ch. 39 (S.B. 655), Sec. 1, eff. May 19, 2015.|
TX Ins Code § 830.012 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 830 - Own Risk and Solvency Assessment|Section 830.012. Administrative Penalty

Sec. 830.012.  ADMINISTRATIVE PENALTY.  (a)  An insurer that, without good cause, fails to timely file the summary report as required by this chapter commits a violation subject to an administrative penalty under Chapter 84.(b)  Each day the violation continues is a separate violation for purposes of this section.(c)  The commissioner may reduce the amount of the penalty assessed under this section if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.|Added by Acts 2015, 84th Leg., R.S., Ch. 39 (S.B. 655), Sec. 1, eff. May 19, 2015.|
TX Ins Code § 831.0001 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 831 - Corporate Governance Annual Disclosure|Section 831.0001. Applicability and Purpose

Sec. 831.0001.  APPLICABILITY AND PURPOSE.  (a)  The purpose of this chapter is to promote the public interest by:(1)  requiring annual disclosure of an insurer or insurance group's corporate governance structure, policies, and practices to permit the commissioner to gain and maintain an understanding of the insurer's corporate governance framework; and(2)  providing for the confidential treatment of the corporate governance annual disclosure and related information as the disclosure and related information will contain confidential and sensitive information related to an insurer or insurance group's internal operations and proprietary and trade-secret information which, if made public, could potentially cause the insurer or insurance group competitive harm or disadvantage.(b)  This chapter may not be construed to prescribe or impose corporate governance standards and internal procedures beyond that which is required under applicable state corporate law.(c)  Notwithstanding Subsection (b), this chapter may not be construed to limit the commissioner's authority, or the rights or obligations of third parties, under Chapter 401.(d)  This chapter applies to each insurer domiciled in this state, except that this chapter does not apply to a domestic insurer that is authorized, admitted, or eligible to engage in the business of insurance only in this state. For the purposes of this chapter, an insurer is not considered to be authorized, admitted, or eligible to engage in the business of insurance only in this state if the insurer is a member of an insurance group that writes or assumes insurance in any manner in another state.|Added by Acts 2019, 86th Leg., R.S., Ch. 1170 (H.B. 3306), Sec. 1, eff. September 1, 2019.|
TX Ins Code § 831.0002 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 831 - Corporate Governance Annual Disclosure|Section 831.0002. Definitions

Sec. 831.0002.  DEFINITIONS.  In this chapter:(1)  "Disclosure" means the confidential corporate governance annual disclosure filed by the insurer or insurance group in accordance with the requirements of this chapter.(2)  "Insurance group" means the insurers and affiliates included within an insurance holding company system as described by Section 823.006.(3)  "Insurer" has the meaning assigned by Section 823.002.  The term includes a health maintenance organization authorized to engage in business under Chapter 843.|Added by Acts 2019, 86th Leg., R.S., Ch. 1170 (H.B. 3306), Sec. 1, eff. September 1, 2019.|
TX Ins Code § 831.0003 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 831 - Corporate Governance Annual Disclosure|Section 831.0003. Disclosure Required

Sec. 831.0003.  DISCLOSURE REQUIRED.  (a)  Except as provided by Subsection (b), an insurer, or the insurance group of which the insurer is a member, shall, not later than June 1 of each calendar year, submit to the commissioner a corporate governance annual disclosure that contains the information described by Section 831.0008(c).(b)  Notwithstanding any request from the commissioner under Subsection (d), an insurer that is a member of an insurance group shall submit the report required by Subsection (a) to the commissioner of the lead state for the insurance group, in accordance with the laws of the lead state, as determined by the procedures adopted by the National Association of Insurance Commissioners.(c)  The disclosure must include a signature of the insurer or insurance group's chief executive officer or corporate secretary attesting to the best of that individual's belief and knowledge that the insurer has implemented the corporate governance practices described in the disclosure and that a copy of the disclosure has been provided to the insurer's board of directors or the appropriate committee of the insurer's board of directors.(d)  An insurer not otherwise required to submit a disclosure under this chapter shall submit a disclosure on the commissioner's request.|Added by Acts 2019, 86th Leg., R.S., Ch. 1170 (H.B. 3306), Sec. 1, eff. September 1, 2019.|
TX Ins Code § 831.0004 (2021)
2021 Texas Statutes|Insurance Code|Title 6 - Organization of Insurers and Related Entities|Subtitle B - Organization of Regulated Entities|Chapter 831 - Corporate Governance Annual Disclosure|Section 831.0004. Level of Reporting

Sec. 831.0004.  LEVEL OF REPORTING.  (a)  For purposes of completing the disclosure under Section 831.0003, an insurer or insurance group may provide information regarding corporate governance at the ultimate controlling parent level, an intermediate holding company level, or the individual legal entity level, depending on how the insurer or insurance group has structured the insurer's or insurance group's system of corporate governance.(b)  An insurer or insurance group is encouraged to make the disclosure:(1)  at the level at which the insurer's or insurance group's risk appetite is determined;(2)  at the level at which the earnings, capital, liquidity, operations, and reputation of the insurer are overseen collectively and at which the supervision of those factors are coordinated and exercised; or(3)  at the level at which legal liability for failure of general corporate governance duties would be placed.(c)  If an insurer or insurance group determines the level of reporting based on the criteria described by Subsection (b), the insurer or insurance group shall indicate which of the three criteria was used to determine the level of reporting and explain any subsequent changes in level of reporting.|Added by Acts 2019, 86th Leg., R.S., Ch. 1170 (H.B. 3306), Sec. 1, eff. September 1, 2019.|