Tex. Ins. Code Section 402.102
Conditions Under Which Report Concerning Nonrenewal, Cancellation, or Revision Required

Except as provided by Section 402.103 (Conditions Under Which Report Concerning Nonrenewal, Cancellation, or Revision Not Required), an insurer or health maintenance organization shall file a report of a material nonrenewal, cancellation, or revision of ceded reinsurance under Section 402.002 (General Reporting Requirements), without regard to which party initiated the nonrenewal, cancellation, or revision, if:

(1)

the entire cession has been canceled, nonrenewed, or revised, and ceded indemnity and loss adjustment expense reserves after the nonrenewal, cancellation, or revision represent less than 50 percent of the comparable reserves that would have been ceded had the nonrenewal, cancellation, or revision not occurred;

(2)

an authorized or accredited reinsurer has been replaced by an unauthorized reinsurer on an existing cession, and the result of the revision affects more than 10 percent of the cession; or

(3)

a collateral requirement previously established for an unauthorized reinsurer has been reduced, in that the requirement to collateralize incurred but unreported claim reserves has been waived for at least one unauthorized reinsurer newly participating in an existing cession, and the result of the revision affects more than 10 percent of the cession.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.

Source: Section 402.102 — Conditions Under Which Report Concerning Nonrenewal, Cancellation, or Revision Required, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­402.­htm#402.­102 (accessed May 11, 2024).

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Accessed:
May 11, 2024

§ 402.102’s source at texas​.gov