Tex. Ins. Code Section 4051.354
Automatic Termination of Contract on Withdrawal from State or Reduction of Business

(a)

An insurer that withdraws from this state or reduces the insurer’s total annual premium volume by at least 75 percent in any year is considered to have terminated the contracts of the insurer’s agents. Except as provided by Subsection (b), the insurer shall comply with the requirements of this subchapter.

(b)

An insurer described by Subsection (a) shall renew each contract for property and casualty insurance for the affected agent for 24 months from the date of the notice of termination or suspension of the contract.

(c)

This section does not apply to the transfer of business from an insurer to another insurer with which the agent has a contract and that:

(1)

is under common ownership; and

(2)

is admitted to engage in the business of insurance in this state.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.

Source: Section 4051.354 — Automatic Termination of Contract on Withdrawal from State or Reduction of Business, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­4051.­htm#4051.­354 (accessed May 4, 2024).

4051.001
Applicability of Chapter 4051.002
Requirements Applicable to Certain Agent Contracts 4051.051
License Required 4051.052
Authority to Write Additional Lines 4051.053
Authority to Write Certain Accident and Health Insurance 4051.054
Deceased, Disabled, or Insolvent Agents 4051.101
License Required 4051.102
Designation of Kinds of Insurance 4051.201
License Issuance 4051.202
Course 4051.203
Examination 4051.204
Investigation by Department 4051.205
Withdrawal of Company’s Authority 4051.206
Applicability of Limited License Laws 4051.251
Appointment of Agent 4051.252
Requirements for Appointment 4051.253
Acceptance of Certain Continuing Education 4051.254
Rules 4051.351
Applicability of Subchapter 4051.352
Suspension of Agent’s Contract 4051.353
Notice Required Before Termination or Suspension of Contract 4051.354
Automatic Termination of Contract on Withdrawal from State or Reduction of Business 4051.355
Renewal of Insurance Contracts After Notice of Termination or Suspension 4051.356
Insurer Refusal to Renew Agent’s Business Prohibited 4051.357
Insurer Approval for New Business or Increase in Liability 4051.358
Provision of Underwriting Standards to Agent Whose Contract Is Terminated or Suspended 4051.359
Payment of Money Due Insurer 4051.360
Revision of Termination Provisions of Agent’s Contract 4051.361
Administrative Penalty 4051.362
Action for Damages 4051.401
Personal Lines Property and Casualty License 4051.402
Authority to Write Additional Lines 4051.403
Personal Lines Included in General Property and Casualty License 4051.404
Fees
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Accessed:
May 4, 2024

§ 4051.354’s source at texas​.gov