Tex.
Ins. Code Section 2201.201
Scope of Authority
(1)
as a risk retention group; and(2)
to conduct the activities described in this chapter.(1)
information sufficient to verify that the group’s members are engaged in businesses or activities that are similar or related with respect to the liability to which those members are exposed by virtue of any related, similar, or common product, trade, business, operations, premises, or services;(2)
for each state in which the group intends to operate, the coverages, deductibles, coverage limits, rates, and rating classification systems for each line of insurance the group intends to offer;(3)
historical and expected loss experience of the proposed members and national experience of similar exposures to the extent that this experience is reasonably available;(4)
pro forma financial statements and projections;(5)
appropriate opinions, including a determination of minimum premium or participation levels required to begin operations and to prevent a hazardous financial condition, by:(A)
a qualified, independent casualty actuary who is a member in good standing of the American Academy of Actuaries; or(B)
an individual who the commissioner recognizes as having comparable training and experience;(6)
identification of management, underwriting and claims procedures, marketing methods, managerial oversight methods, and investment policies; and(7)
other matters prescribed by the insurance laws of the state in which the group is chartered.
Source:
Section 2201.201 — Scope of Authority, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2201.htm#2201.201 (accessed Jun. 5, 2024).
