reglab/statecodes huggingface dataset:
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter L - SELECTION OF A TESTING SERVICES VENDOR FOR ADMINISTRATION OF LICENSING EXAMINATIONS › Section 19.1104 - Objection to Selection Process

Current through Reg. 49, No. 28; July 12, 2024
Any objection to the examination testing vendor selection
					 or bid process under this subchapter, must comply with §§
										1.1101-
					 1.1107 of
					 this title (relating to Procedures for Vendor Protests of
					 Procurements).
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter M - LICENSING AND REGULATION OF MANAGING GENERAL AGENTS › Section 19.1201 - General Provisions

Current through Reg. 49, No. 28; July 12, 2024
(a) Statutory basis
				  and purpose. This subchapter implements the Managing General Agents' Licensing
				  Act (the Insurance Code, Article 21.07-3). The Managing General Agents'
				  Licensing Act (Act) was first enacted in 1967 as Chapter 757 at page 2048 of
				  the Acts of the 60th Legislature and first became effective on August 28,
				  1967.
(b) Severability. Where any
				  terms or sections of this subchapter are determined by a court of competent
				  jurisdiction to be inconsistent with the Act, as identified by this subchapter,
				  the Act will apply and the remaining terms and provisions of this subchapter
				  shall continue in effect.
(c)
				  Effect of rules. The sections set out in this subchapter are prescribed to
				  govern the performance of appropriate statutory and regulatory functions and
				  are not to be construed as limitations upon the exercise of statutory authority
				  by the State Board of Insurance (board) or the commissioner of insurance
				  (commissioner).
(d) Violation. A
				  violation of any lawful rule, regulation, or order of the commissioner or board
				  made pursuant to this subchapter constitutes a violation of the Act.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter M - LICENSING AND REGULATION OF MANAGING GENERAL AGENTS › Section 19.1203 - Adoption by Reference of Forms Relating to Licensing and Regulation of Managing General Agents

Current through Reg. 49, No. 28; July 12, 2024
The State Board of Insurance adopts and incorporates herein
					 by reference forms for use in administrative licensing and regulation of
					 managing general agents. These forms are published by the State Board of
					 Insurance and may be obtained from the Agents' Licensing Division, Mail Code
					 014-3, State Board of Insurance, 333 Guadalupe Street, Austin, Texas
					 78701-1998. The forms adopted by reference are specifically identified in
					 paragraphs (1)-(3) of this section as follows:
(1) Appointment Application for Licensing of
				  Managing General Agents;
(2) Notice
				  to State Board of Insurance by Managing General Agents or Surplus Lines Agents;
				  and
(3) Notice to State Board of
				  Insurance by Insurance Companies Licensed under Authority of the Insurance
				  Code, Chapters 5, 6, 7, 8, 15, 16, 17, 18, or 19.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter M - LICENSING AND REGULATION OF MANAGING GENERAL AGENTS › Section 19.1204 - Contract Provisions

Current through Reg. 49, No. 28; July 12, 2024
(a) This subsection
				  imposes the requirements set out in paragraph (1) and paragraph (2) of this
				  subsection upon contracts between a managing general agent (MGA) and insurers
				  in effect prior to the effective date of this subchapter.
(1) Oral contract. Every oral contract
				  between an MGA and an insurer in effect prior to the effective date of this
				  subchapter must be reduced to writing and must comply with the Managing General
				  Agents' Licensing Act (Act) and with the provisions of this subchapter within
				  90 days following the effective date of this subchapter, regardless of the
				  intended renewal date of the contract.
(2) Written contract. For any written
				  contract between an MGA and an insurer entered into prior to September 1, 1989,
				  the following actions must be taken.
(A) If
				  the written contract does not address any area which the Act or this subchapter
				  requires the contract to address, the MGA and the insurer must enter into a
				  separate written contract or adopt amendments to the existing contract which
				  address such area and which are in compliance with the Act and this subchapter.
				  The written contract must be entered into or amendments adopted within 90 days
				  from the effective date of this subchapter.
(B) If the written contract addresses an area
				  which is covered by the Act and this subchapter, and if the contract does not
				  comply with the Act or this subchapter, the written contract must be filed by
				  the MGA with the Agents' Licensing Division of the State Board of Insurance,
				  for information.
(C) If any written
				  contract entered into prior to September 1, 1989, is amended or changed
				  subsequent to the effective date of the Act, any amendment or change must be in
				  writing and must comply with the Act and this subchapter.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter M - LICENSING AND REGULATION OF MANAGING GENERAL AGENTS › Section 19.1205 - Escrow Accounts

Current through Reg. 49, No. 28; July 12, 2024
(a) Separate and
				  identifiable escrow accounts are allowed if such accounts meet all requirements
				  of the Insurance Code, Article 21.07-3, and this subchapter.
(b) The managing general agent shall maintain
				  all escrow accounts in a bank that is a member of the Federal Reserve System
				  and whose accounts are insured by the Federal Deposit Insurance Corporation.
				  Such accounts may consist of any one or all of the following vehicles listed in
				  paragraphs (1)-(7) of this subsection:
(1)
				  checking accounts;
(2) pass book
				  savings accounts;
(3) money market
				  accounts;
(4) certificates of
				  deposit;
(5) United States treasury
				  bills, notes, or bonds;
(6) real
				  estate repurchase agreements for which the underlying collateral is United
				  States government securities;
(7)
				  non-assessable money market mutual funds which are primarily invested in United
				  States government securities.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter M - LICENSING AND REGULATION OF MANAGING GENERAL AGENTS › Section 19.1206 - Errors and Omissions Policies

Current through Reg. 49, No. 28; July 12, 2024
For any errors and omissions policy used to satisfy the
					 financial responsibility requirement under the Insurance Code, Article 21.07-3,
					 §4C(a)(1), the State Board of Insurance shall be a certificate holder and
					 shall receive a copy of any cancellation or nonrenewal
					 notice.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1301 - Purpose, Scope, and Interpretation of This Subchapter

Current through Reg. 49, No. 28; July 12, 2024
(a) Purpose. The purpose of this subchapter
				  is to implement licensing of risk managers as prescribed by the Insurance Code,
				  Article 21.14-1. The purpose of a license issued under this subchapter is to
				  authorize and enable the licensee actively and in good faith to engage in the
				  business of risk management (and property and casualty insurance consulting)
				  with respect to the general public, and to facilitate the public supervision of
				  such activities in the public interest, and not for the purpose of enabling the
				  licensee to receive a rebate of premium in the form of commission or other
				  compensation upon the licensee's own interest or upon the interests of other
				  persons with whom the licensee is closely associated. A license as risk manager
				  does not authorize adjusting of losses and does not authorize receipt of
				  compensation from insurers or agents for the sale or placement of
				  insurance.
(b) Severability. If any
				  provision of this subchapter is determined by a court of competent jurisdiction
				  to be inconsistent with the Insurance Code, Article 21.14-1, that article will
				  apply, but the remaining provisions of this subchapter will continue in
				  effect.
(c) Effect of rules. The
				  rules set forth in this subchapter are prescribed to govern the performance of
				  appropriate statutory and regulatory functions and are not to be construed as
				  limitations upon the exercise of statutory authority by the State Board of
				  Insurance and the commissioner of insurance.
(d) Violation of rules. A violation of the
				  lawful rules, regulations, or orders issued by the commissioner or board
				  pursuant to the provisions of this subchapter constitutes a violation of the
				  Insurance Code, Article 21.14-1.
(e) Gender and number. Whenever the context
				  of the Insurance Code, Article 21.14-1, or of the provisions of this subchapter
				  so requires, the masculine gender includes the feminine and/or neuter, and the
				  singular includes the plural.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1302 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
The following words and terms, when used in this
					 subchapter, shall have the following meanings, unless the context clearly
					 indicates otherwise.
(1) Board--The
				  State Board of Insurance.
(2)
				  Code--The Texas Insurance Code, 1951, as amended.
(3) Commissioner--The commissioner of
				  insurance.
(4) Risk management--The
				  process of identifying the areas of potential risk, using measurement
				  techniques to determine the severity and frequency with which the risk may
				  occur, evaluating and analyzing all costs involved with each type of risk, and
				  establishing procedures for managing, controlling, retaining, and financing
				  each risk.
(5) Risk manager--A
				  person who holds himself out to the public and who for compensation examines,
				  assesses, or evaluates risks for, and provides advice for reduction of risks
				  to, a person who seeks to obtain or renew property and casualty insurance
				  coverage in this state.
(6)
				  Rules--All rules under this subchapter relating to risk managers.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1304 - Last Known Address

Current through Reg. 49, No. 28; July 12, 2024
Each risk manager must at all times keep the Texas
					 Department of Insurance informed of the risk manager's address. Such address
					 must be included in each license application and each license renewal form. In
					 the absence of the submission of a specific written request to change that
					 address, which must be separate from any other submission, the risk manager's
					 current address is presumed to be the address on file with the department. Such
					 address will be considered the risk manager's last known address for the
					 purpose of notice to the agent by the department. Any request for a change of
					 address must be made using the instructions provided on the department's
					 website.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1305 - License Requirement

Current through Reg. 49, No. 28; July 12, 2024
(a) A person may
				  not act as, or hold himself out to be, a risk manager in this state unless the
				  person meets the requirements of the Insurance Code, Article 21.14-1, and the
				  rules of the board and is licensed by the board.
(b) In applying for a license, each applicant
				  must submit the following:
(1) a completed
				  application for risk manager's license with all documentation
				  attached;
(2) two recent clear and
				  close-up photographs of the applicant, at least 2 inches by 1.5 inches in size;
				  and
(3) the license fee.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1306 - Qualifications for Risk Manager's License

Current through Reg. 49, No. 28; July 12, 2024
To qualify for a license under the Insurance Code, Article
					 21.14-1, a person must:
(1) be at
				  least 18 years of age;
(2) maintain
				  a place of business in this state;
(3) be a trustworthy and competent
				  person;
(4) meet the application
				  requirements required by the Insurance Code, Article 21.14-1, and the rules of
				  the board;
(5) take and pass the
				  licensing examination; and
(6) pay
				  the licensing and examination fees.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1307 - Exemption

Current through Reg. 49, No. 28; July 12, 2024
The Insurance Code, Article 21.14-1, and the provisions of
					 this subchapter do not apply to a person who is employed as a risk manager by a
					 liability insurance company authorized to do business in this state or by a
					 single employer or by a public self-insured pool.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1308 - Application for License

Current through Reg. 49, No. 28; July 12, 2024
Using the forms prescribed and furnished by the Texas
					 Department of Insurance, a person who desires to be licensed as risk manager in
					 Texas must submit an application for risk manager's license using the
					 instructions provided on the department's website. The license fee is payable
					 at the time of application. As part of the application, the applicant must
					 furnish to the department any information relating to the applicant's identity,
					 personal history, experience, business record, or other items as the department
					 may require. All documentation and records submitted or maintained for the
					 purpose of licensure or renewal are subject to audit or review by the
					 department.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1309 - Place of Business

Current through Reg. 49, No. 28; July 12, 2024
A licensed risk manager must maintain a place of business
					 in this state that is accessible to the public. This place of business must be
					 located at the place at which the risk manager principally conducts or
					 transacts business.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1310 - Examination

Current through Reg. 49, No. 28; July 12, 2024
(a) Except as provided in subsection (b) of
				  this section, qualified applicants must pass the risk manager license
				  examination administered by TDI's designated testing service before TDI will
				  issue a license to the applicant. Applicants must contact TDI's designated
				  testing service to schedule the examination.
(b) Applicants not required to take the
				  examination as a prerequisite to obtaining a license are those who hold the
				  designations of chartered property and casualty underwriter, certified
				  insurance counselor, associate in risk management, or certified risk
				  manager.
(c) An applicant who fails
				  an examination may retake the examination on payment of an additional
				  examination fee.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1311 - Examination and License Fees and Charges

Current through Reg. 49, No. 28; July 12, 2024
(a) The commissioner shall collect in advance
				  the following nonrefundable fees and charges specified by §
										19.802
				  of this title (relating to Amounts of Fees):
(1) risk manager's license fee;
(2) examination fee;
(3) renewal fee; and
(4) late renewal charge.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1312 - License Renewal; Renewal Fee

Current through Reg. 49, No. 28; July 12, 2024
(a) A
				  license issued under the Insurance Code, Article 21.14-1, expires two years
				  after the date of issuance. A licensee may renew an unexpired license by filing
				  an application for renewal with the board and paying the renewal fee on or
				  before the expiration date of the license. The commissioner shall issue a
				  renewal certificate to the licensee at the time of the renewal if the
				  commissioner determines the licensee continues to be eligible for the
				  license.
(b) If a person's license
				  has been expired for less than two years, the person may renew the license by
				  paying the unpaid renewal fee plus a late renewal charge.
(c) If the person's license has been expired
				  for two years or more, the person may not renew the license. The person may
				  obtain a new license by:
(1) filing an
				  application for risk manager's license form;
(2) submitting to reexamination (if the
				  person is not exempt from the examination at the time of
				  reapplication);
(3) submitting
				  payment of the license fee; and
(4)
				  complying with the requirements and procedures for obtaining an original
				  license.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1313 - Denial, Suspension, or Revocation of a License

Current through Reg. 49, No. 28; July 12, 2024
(a) The State Board of Insurance may deny an
				  application or suspend, revoke, or refuse to renew a risk manager's license for
				  any of the reasons designated in the Insurance Code, Article 21.14-1, and the
				  rules and regulations of the State Board of Insurance.
(b) A person who fails the examination is
				  considered to have application pending and is not legally licensed to ask a
				  risk manager until successful completion of the examination and issuance of the
				  license.
(c) A risk manager's
				  license may not be suspended or revoked without required notice and hearing by
				  the board.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1314 - Duration of Suspension

Current through Reg. 49, No. 28; July 12, 2024
(a) Every order
				  suspending a license must specify the period during which the suspension is
				  effective. A license may not be suspended for a period to exceed 12
				  months.
(b) The holder of a license
				  that has been revoked or suspended shall surrender the license to the
				  commissioner.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1315 - Reinstatement or Relicensing

Current through Reg. 49, No. 28; July 12, 2024
The commissioner may not reinstate the license of, or
					 reissue a license to, a licensee for one year from the date of suspension,
					 revocation, or refusal to renew a license.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1316 - Nonresident License

Current through Reg. 49, No. 28; July 12, 2024
A nonresident of the state of Texas who seeks to do
					 business as a risk manager within the State of Texas must apply for licensing
					 in accordance with the Insurance Code, Article 21.14-1, and the provisions of
					 this subchapter.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1317 - License by Endorsement

Current through Reg. 49, No. 28; July 12, 2024
If a nonresident applicant is licensed as a risk manager by
					 another state, the District of Columbia, or a commonwealth or territory of the
					 United States, and if the licensing requirements of the licensing jurisdiction
					 were, on the date of the licensing, substantially equal to those prescribed by
					 the Insurance Code, Article 21.14-1, the applicant may receive a license
					 without examination upon submission of an application for risk manager's
					 license, a certificate of good standing from the nonresident's home state, and
					 payment of the license fee.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1318 - Dual Compensation

Current through Reg. 49, No. 28; July 12, 2024
A person licensed under the provisions of the Insurance
					 Code, Article 21.14-1, who is also licensed under the Insurance Code, Article
					 21.14, and who receives a commission or compensation for his services as an
					 agent licensed under the Insurance Code, Article 21.14, shall not be entitled
					 to receive a fee for his services relative to the same policy placement as a
					 risk manager within a 24-month period without full disclosure in writing of the
					 fee to the insured.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter N - LICENSING AND REGULATION OF RISK MANAGERS › Section 19.1319 - Penalty

Current through Reg. 49, No. 28; July 12, 2024
A person may not act as or hold himself out to be a risk
					 manager in the State of Texas unless the person meets the requirements of the
					 Insurance Code, Article 21.14-1, and the rules of the board and is licensed by
					 the board. An offense is committed if a person violates or does not comply with
					 the Insurance Code, Article 21.14-1, §2. An offense under that section is
					 a Class C misdemeanor.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter O - PROCEDURES AND REQUIREMENTS FOR REINSURANCE INTERMEDIARIES (BROKERS AND MANAGERS) › Section 19.1401 - Purpose and Scope

Current through Reg. 49, No. 28; July 12, 2024
These rules govern the licensure and activities of brokers
					 and managers who are licensed under the Reinsurance Intermediary Act, Texas
					 Insurance Code, Article 21.07-7. These sections are supplementary to and
					 cumulative of existing statutes. In the case of an ambiguity or contradiction
					 between any of the sections in these rules and any statute, the provisions of
					 the statute prevail.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter O - PROCEDURES AND REQUIREMENTS FOR REINSURANCE INTERMEDIARIES (BROKERS AND MANAGERS) › Section 19.1402 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
The following words and terms, when used in this
					 subchapter, shall have the following meanings, unless the context clearly
					 indicates otherwise.
(1) Board--The
				  State Board of Insurance.
(2)
				  Broker--A person other than an officer or employee of an insurer, who solicits,
				  negotiates, or places reinsurance business on behalf of an insurer and who may
				  not exercise the authority to bind reinsurance on behalf of that
				  insurer.
(3) Commercially domiciled
				  insurer--A foreign or alien insurer authorized to do business in this state
				  that during its three preceding fiscal years taken together, or any lesser
				  period of time if it has been licensed to transact business in this state only
				  for that lesser period of time, has written an average of more gross premiums
				  in this state than it has written in its state of domicile during the same
				  period with those gross premiums constituting 20% or more of its total gross
				  premiums everywhere in the United States for that three-year or lesser period,
				  as reported in its three most recent annual statements.
(4) Commissioner--The commissioner of
				  insurance.
(5) Insurer--A
				  commercially domiciled insurer or other person legally organized in this state
				  to do business as an insurance company, including:
(A) a capital stock company;
(B) a mutual company;
(C) a title insurance company;
(D) a fraternal benefit society;
(E) a local mutual aid association;
(F) a statewide mutual assessment
				  company;
(G) a county mutual
				  insurance company;
(H) a Lloyds'
				  plan company;
(I) a reciprocal or
				  interinsurance exchange;
(J) a
				  stipulated premium insurance company;
(K) a group hospital service
				  company;
(L) a farm mutual
				  insurance company; and
(M) a risk
				  retention group.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter O - PROCEDURES AND REQUIREMENTS FOR REINSURANCE INTERMEDIARIES (BROKERS AND MANAGERS) › Section 19.1403 - Requirements for Bond or Errors and Omissions Policy

Current through Reg. 49, No. 28; July 12, 2024
Any reinsurance intermediary must file and maintain a bond
					 with the commissioner for the protection of all insurers represented or file
					 and maintain an errors and omissions policy, meeting the following
					 criteria.
(1) The bond must be executed
				  by the reinsurance intermediary as principal and by a surety company authorized
				  to do business in this state, as surety, or surplus lines insurer eligible in
				  this state, in the principal sum of $100,000 for a broker and in the principal
				  sum of $250,000 for a manager, payable to the Texas Department of Insurance for
				  the use and benefit of all insurers represented. The bond must provide that a
				  copy of any cancellation or nonrenewal notice must be mailed to Agent and
				  Adjuster Licensing Office, Texas Department of Insurance, MC: CO-AAL, P.O. Box
				  12030, Austin, Texas 78711-2030. The executed bond must be furnished to the
				  Texas Department of Insurance.
(2)
				  The errors and omissions policy must be in a form acceptable to the Texas
				  Department of Insurance, and must be filed with Agent and Adjuster Licensing
				  Office at the address listed in paragraph (1) of this section. The policy must
				  provide that the Texas Department of Insurance will be a certificate holder and
				  will receive a copy of any cancellation or nonrenewal notice, which must be
				  mailed to the deputy commissioner for licensing at the address listed in
				  paragraph (1) of this section. The errors and omissions policy must cover all
				  negligent acts or omissions of the reinsurance intermediary and any person
				  acting on its behalf and must provide coverage of at least $100,000 for each
				  occurrence for brokers and must provide coverage of at least $250,000 for each
				  occurrence for managers.
(3) The
				  commissioner may determine that special circumstances require an additional
				  amount of coverage for the bond or policy.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter O - PROCEDURES AND REQUIREMENTS FOR REINSURANCE INTERMEDIARIES (BROKERS AND MANAGERS) › Section 19.1404 - Requirements for Interim Profit-Sharing by a Manager

Current through Reg. 49, No. 28; July 12, 2024
If the contract between an insurer and its manager provides
					 for a sharing of interim profits by the manager, interim profits may not be
					 paid until five years after the end of each underwriting period for casualty
					 business, one year after the end of each underwriting period for property
					 business, and one year after the end of each underwriting period for accident
					 and health insurance and all other lines of insurance.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter O - PROCEDURES AND REQUIREMENTS FOR REINSURANCE INTERMEDIARIES (BROKERS AND MANAGERS) › Section 19.1405 - Requirements for Form of Audited Statements

Current through Reg. 49, No. 28; July 12, 2024
The statements prepared by an independent certified public
					 accountant of the financial condition of each manager of an insurer, required
					 by the Reinsurance Intermediary Act, §8(b), shall comply with all
					 generally accepted accounting procedures.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter O - PROCEDURES AND REQUIREMENTS FOR REINSURANCE INTERMEDIARIES (BROKERS AND MANAGERS) › Section 19.1406 - Fees for Examinations

Current through Reg. 49, No. 28; July 12, 2024
The expenses for the examinations required by the
					 Reinsurance Intermediary Act (the Act), §9, shall be determined to be just
					 and reasonable if they are sufficient to meet all the expenses and
					 disbursements necessary to comply with the provisions of the
					 Act.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter O - PROCEDURES AND REQUIREMENTS FOR REINSURANCE INTERMEDIARIES (BROKERS AND MANAGERS) › Section 19.1407 - Approval of Reinsurance Intermediary Manager's Contracts

Current through Reg. 49, No. 28; July 12, 2024
(a) A written contract, which specifies the
				  responsibilities of each party, must be approved by the insurer's board of
				  directors or attorney in fact and executed by a responsible officer of an
				  insurer and a manager prior to entering into any transaction between the
				  manager and the insurer.
(b) A copy
				  of the executed contract and the approval of the insurer's board of directors
				  or attorney in fact must be filed by the manager with the commissioner for
				  approval at least 30 days before the insurer assumes or cedes any business
				  through the manager.
(c) The
				  contract must include the minimum requirements specified in Insurance Code
				  §
										4152.201, concerning
				  Contract Between Manager and Insurer. A contract that does not comply with the
				  minimum requirements of the Insurance Code or this section will not be
				  considered to have been filed with the commissioner for approval. The contract
				  will be approved or disapproved within 30 days of its filing.
(d) A failure to file complete and accurate
				  information in all material respects is grounds for disapproval of the contract
				  by the commissioner under Insurance Code §
										4152.201.
(e) Any disapproval by the commissioner of
				  any contract filed under this section will set forth the specific reasons for
				  such disapproval.
(f) If any
				  material changes are made to the contract filed with the commissioner, an
				  amended contract setting forth such changes must be filed with the commissioner
				  for approval as if it were a new contract.
(g) Contracts subject to this section and
				  Insurance Code §
										4152.201, must be
				  filed using the method described on the department's website for the purpose of
				  determining compliance with this section. Telephonic or fax transmissions will
				  not constitute proper filing under this section.
(h) This section will be cumulative of and in
				  addition to the requirements of Insurance Code Chapter 4053, concerning
				  Managing General Agents; Chapter 4152, concerning Reinsurance Intermediaries;
				  and Chapter 823, concerning Insurance Holding Company Systems, and related
				  regulations. Nothing contained in this section is intended to exempt an insurer
				  or its reinsurance intermediary manager from other provisions of the Insurance
				  Code.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter P - FEES CHARGED BY LOCAL RECORDING AGENTS › Section 19.1501 - General Provisions

Current through Reg. 49, No. 28; July 12, 2024
(a) Purpose and
				  Scope. The purpose of this subchapter is to insure full disclosure of fees
				  local recording agents charge purchasers of insurance policies. This subchapter
				  applies to all fees authorized to be charged by local recording
				  agents.
(b) Severability. Where any
				  terms or sections of this subchapter are determined by a court of competent
				  jurisdiction to be inconsistent with any statutes of this state or to be
				  unconstitutional, the remaining terms and provisions of this subchapter shall
				  remain in effect.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter P - FEES CHARGED BY LOCAL RECORDING AGENTS › Section 19.1502 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
The following words and terms, when used in this
					 subchapter, shall have the following meanings unless the context clearly
					 indicates otherwise.
(1) Agent fee--A
				  charge by a local recording agent, in lieu of or in addition to the commission,
				  for services the agent agrees to perform in connection with the sale or service
				  of a particular policy.
(2)
				  Client--The client of the local recording agent.
(3) Commissioner--The commissioner of
				  insurance.
(4) Fees--Fees
				  authorized by Texas Insurance Code, Article 21.14, §4(e), which may
				  include the services rendered to a client but not anticipated in any commission
				  paid to the agent by an insurance company. These services may include special
				  delivery postal charges, printing and reproduction costs, electronic mail
				  costs, telephone transmission costs, or similar costs that the local recording
				  agent may incur on behalf of the client.
(5) Inspection fee--A charge by a local
				  recording agent for examination of a risk to be insured to determine
				  acceptance, rejection or rate.
(6)
				  Local recording agent--A person subject to licensing under Insurance Code,
				  Article 21.14.
(7) Membership
				  dues--A payment or obligation required by an organization or group for an
				  individual to be considered a member or part of the organization or
				  group.
(8) Policy fee--A charge by
				  a local recording agent on behalf of an insurer, managing general agent or
				  surplus lines agent in connection with issuance of the policy. This charge is
				  in addition to the premium.
(9)
				  Service fee--A charge by a local recording agent for actual costs incurred in
				  obtaining a motor vehicle record of a person, or a photograph of property,
				  insured under, or to be insured under, an insurance policy; or the reasonable
				  costs of special delivery or postal charges, printing and reproduction costs,
				  electronic mail costs, telephone transmission costs, and similar costs incurred
				  by the agent on behalf of the client.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter P - FEES CHARGED BY LOCAL RECORDING AGENTS › Section 19.1503 - Procedures for Charging Fees

Current through Reg. 49, No. 28; July 12, 2024
(a) A local
				  recording agent may charge a client a service fee to reimburse the agent for
				  actual costs as specifically enumerated in and in accordance with the Insurance
				  Code, Article 21.35A(b). A local recording agent may also charge a client a
				  reasonable service fee for those items listed in Insurance Code, Article
				  21.35A(c). A local recording agent may not charge a service fee unless the
				  agent notifies the client of the service fee (including for reimbursement of
				  actual costs) and obtains the client's written consent for each item charged
				  under the service fee prior to the local recording agent incurring an expense
				  on behalf of the client.
(b) Local
				  recording agents may, aside from service fees, charge a client policy fees,
				  agent fees, inspection fees and membership dues in accordance with Insurance
				  Code, Article 21.35B.
(c) The local
				  recording agent must follow the procedures for disclosure set out in this
				  subsection when charging a client for these fees. The local recording agent
				  must obtain the client's signature on a disclosure form. The local recording
				  agent must disclose, to a client, the following information in the written
				  disclosure form signed by the client:
(1)
				  that the agent has notified the client of the agent's reimbursement or fee
				  requirement prior to incurring the expense or providing the service;
(2) the agent fee, service fee or inspection
				  fee, if any, charged by the agent on the transaction. If a policy fee is
				  charged which is not separately disclosed on the declarations page of the
				  policy or endorsed onto the policy, the agent must disclose the policy
				  fee;
(3) the toll-free telephone
				  number (1-800-252-3439) of the Texas Department of Insurance and a statement in
				  boldface type advising the client that the client may call that number to
				  obtain information on how to file a complaint if the client has a complaint
				  regarding such fees; and
(4) a
				  complete, itemized listing of the fees being charged and, if a service fee is
				  charged, a complete itemized listing of the services provided and the
				  corresponding charge for each item under the service fee.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter Q - DISCOUNT HEALTH CARE PROGRAM REGISTRATION AND RENEWAL REQUIREMENTS › Section 19.1601 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
The following words and terms when used in this subchapter
					 shall have the following meanings unless the context clearly indicates
					 otherwise:
(1) Individuals responsible
				  for conducting the program operator's affairs--Individuals with the power to
				  direct or cause the direction of the management and policies of a discount
				  health care program, whether directly or indirectly.
(2) Person--An individual, corporation,
				  association, partnership, or other legal entity as provided by the Insurance
				  Code §
										562.002(7).
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter Q - DISCOUNT HEALTH CARE PROGRAM REGISTRATION AND RENEWAL REQUIREMENTS › Section 19.1603 - Financial Responsibility Requirement

Current through Reg. 49, No. 28; July 12, 2024
(a) As required by the Insurance Code §
										562.103(f)(1),
				  a discount health care program operator, as a condition of being registered and
				  continuing such registration, shall maintain a surety bond payable to the
				  department, for the use and benefit of members, in the principal amount of
				  $50,000, except that a discount health care program operator that is an insurer
				  that holds a certificate of authority under Title 6 is not required to maintain
				  the surety bond.
(b) Each discount
				  health care program operator is required to obtain separate proof of financial
				  responsibility and may not rely on the bond of any other discount health care
				  program operator to demonstrate proof of financial responsibility.
(c) The discount health care program operator
				  applicant or registrant is required to demonstrate proof of financial
				  responsibility by providing to the department the original surety bond upon
				  application, renewal, or replacement of the bond.
(d) A surety bond used to maintain and
				  demonstrate proof of financial responsibility under this section is required
				  to:
(1) be issued by a company authorized, or
				  eligible, to do business as a surety in the State of Texas;
(2) be in compliance with all applicable
				  provisions of the Insurance Code and applicable department rules;
(3) be on a form filed with and approved by
				  the department;
(4) be consistent
				  with the Insurance Code §
											562.103(f),
				  to be payable to the Texas Department of Insurance for the use and benefit of
				  members:
(A) on the determination by the
				  department that funds are necessary for the payment of such claims following
				  compliance with all applicable provisions of the Insurance Code and applicable
				  rules of the department; or
(B)
				  upon final judgment against the Principal arising from such a claim.
(5) provide that the issuing
				  company will provide the department and the registrant at least 30 days prior
				  written notice of its intent to cancel the bond;
(6) be effective for the entire time period
				  of the registration;
(7) be
				  separate from any other financial obligation; and
(8) not be used to demonstrate professional
				  responsibility for any other registration or individual or entity.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter Q - DISCOUNT HEALTH CARE PROGRAM REGISTRATION AND RENEWAL REQUIREMENTS › Section 19.1604 - Renewal

Current through Reg. 49, No. 28; July 12, 2024
(a) Not later than 60 days before the date a
				  person's registration as a discount health care program operator expires, the
				  department will send a written registration renewal notice to the email address
				  designated for such communications by the regulated person.
(b) In the absence of the submission of a
				  written request to change the address of a registered discount health care
				  program operator as required by Insurance Code §
										7001.005(a)(1),
				  concerning Application for Registration and Renewal of Registration, and §
										19.1605 of this title (relating to
				  Requirements Related to Discount Health Care Program Information), the discount
				  health care program operator's current address is presumed to be the address on
				  file with the department. Such address will be considered the discount health
				  care program operator's last known address for the purpose of the department
				  sending a registration renewal notice to the discount health care program
				  operator.
(c) A discount health
				  care program operator may renew a registration to offer a discount health care
				  program in this state by:
(1) submitting $500
				  renewal fee and renewal application as required by Insurance Code §
											7001.006, concerning
				  Fees, and §
											19.802 of this title (relating to
				  Amount of Fees). A renewal fee paid under this section is nonrefundable and
				  nontransferable. The discount health care program operator may submit the
				  renewal notice and payment to the Texas Department of Insurance using the
				  method described on the department's website; and
(2) certifying in writing to the department
				  that its programs comply with the requirements of the Insurance Code Chapters
				  7001 and 562.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter Q - DISCOUNT HEALTH CARE PROGRAM REGISTRATION AND RENEWAL REQUIREMENTS › Section 19.1605 - Requirements Related to Discount Health Care Program Information

Current through Reg. 49, No. 28; July 12, 2024
(a) Except for changes in the form of
				  contracts as provided in Insurance Code §
										7001.005(b),
				  concerning Application for Registration and Renewal of Registration, and
				  subsection (b) of this section, a registered discount health care program
				  operator whose registration or renewal information has changed since the
				  initial registration or renewal pursuant to Insurance Code §
										7001.005(a)
				  and this section must notify the department in writing of a change not later
				  than the 30th day after the effective date of the change using instructions
				  provided on the department's website.
(b) After the initial registration, if the
				  form of a contract described by Insurance Code §
										7001.005(a)(5)
				  and §
										19.1602(a)(2)(C)
				  of this title (relating to Registration Requirement) changes, the program
				  operator is required to file the modified contract with the department before
				  it may be used.
(c) After the
				  initial registration, a discount health care program operator must comply with
				  the requirements of Insurance Code §
										7001.005(a)(4)
				  and this section to submit to the department on a quarterly basis, not later
				  than each June 30, September 30, December 31, and March 31, lists of marketers,
				  both entities and individuals, separated as follows:
(1) a list of the marketers, both entities
				  and individuals, authorized to sell or distribute the program operator's
				  programs under the program operator's name; and
(2) a list of the marketers and individuals
				  authorized to private label the program operator's programs.
Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 19 - LICENSING AND REGULATION OF INSURANCE PROFESSIONALS › Subchapter Q - DISCOUNT HEALTH CARE PROGRAM REGISTRATION AND RENEWAL REQUIREMENTS › Section 19.1606 - Severability

Current through Reg. 49, No. 28; July 12, 2024
If a court of competent jurisdiction holds that any
					 provision of this subchapter is inconsistent with any statutes of this state,
					 is unconstitutional, or is invalid for any reason, the remaining provisions of
					 this subchapter shall remain in effect.