Tex. Ins. Code Section 981.101
Requirements for Surplus Lines Documents

(a)

In this section, “surplus lines document” means each new or renewal insurance contract, certificate, cover note, or other confirmation of insurance obtained and delivered as surplus line coverage under this chapter.

(b)

A surplus lines document must state, in 11-point type, the following:
This insurance contract is with an insurer not licensed to transact insurance in this state and is issued and delivered as surplus line coverage under the Texas insurance statutes. The Texas Department of Insurance does not audit the finances or review the solvency of the surplus lines insurer providing this coverage, and the insurer is not a member of the property and casualty insurance guaranty association created under Chapter 462 (Texas Property and Casualty Insurance Guaranty Association), Insurance Code. Chapter 225 (Surplus Lines Insurance Premium Tax), Insurance Code, requires payment of a __________ (insert appropriate tax rate) percent tax on gross premium.

(c)

A surplus lines document must show:

(1)

the description and location of the subject of the insurance;

(2)

the coverage, conditions, and term of the insurance;

(3)

the premium and rate charged, and premium taxes to be collected from the insured;

(4)

the name and address of:

(A)

the insured;

(B)

the insurer; and

(C)

the insurance agent who obtained the surplus line coverage; and

(5)

if the direct risk is assumed by more than one insurer:

(A)

the name and address of each insurer; and

(B)

the proportion of the entire direct risk assumed by each insurer.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 2E.128, eff. April 1, 2009.

Source: Section 981.101 — Requirements for Surplus Lines Documents, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­981.­htm#981.­101 (accessed Jun. 5, 2024).

981.001
Purpose 981.002
Definitions 981.003
Applicability of Chapter 981.004
Surplus Lines Insurance Authorized 981.005
Validity of Contracts 981.006
Sanctions 981.007
Liability of Surplus Lines Insurer for Losses and Unearned Premiums 981.008
Surplus Lines Insurance Premium Tax 981.009
Rules 981.0031
Exempt Commercial Purchaser Defined 981.0032
Qualified Risk Manager Defined 981.0033
Industrial Insured Defined 981.051
Authorization Required 981.054
Certain Preconditions Not Allowed 981.057
Minimum Capital and Surplus Requirements 981.058
Alien Insurers 981.063
Commissioner or Department Not Responsible for Determining Unauthorized Insurer’s Financial Condition or Claims Practices 981.064
Commissioner May Order Revocation of Contracts 981.065
Applicability to Contract Extension 981.066
Uniform Standards 981.071
Definition 981.072
Designation as Domestic Surplus Lines Insurer 981.073
Applicability of Other Law 981.074
Authorized Business 981.075
Taxes Imposed 981.076
Requirements for Domestic Surplus Lines Documents 981.077
Redomestication 981.101
Requirements for Surplus Lines Documents 981.102
Limit on Use of Surplus Lines Policy or Contract Forms 981.103
Delivery to Insured of Surplus Lines Documents 981.104
Delivery to Insured of Revised Surplus Lines Documents 981.105
Filing with Stamping Office 981.151
Status as Nonprofit Association 981.152
Board of Directors 981.153
Plan of Operation 981.154
Powers and Duties 981.155
Supervision by Commissioner 981.156
Examination by Commissioner 981.157
Immunity from Liability 981.158
Exemption from Public Information Law 981.159
Exemption from Library and Archives Law 981.160
No Enforcement Authority 981.201
Definition 981.202
Surplus Lines License Required 981.203
Qualifications for Surplus Lines License 981.204
Classification of Surplus Lines Agents 981.210
Placement of Coverage 981.211
Financial Condition of Surplus Lines Insurers 981.212
Accepting Surplus Lines Insurance from Other Agents 981.213
Filing Contract with Stamping Office 981.214
Compliance with Stamping Office Plan of Operation 981.215
Surplus Lines Agent Records 981.216
Annual Report 981.217
Notice to Department Required 981.218
Department Monitoring of Surplus Lines Agents 981.219
Advertising 981.220
Managing General Agents 981.221
Suspension or Revocation of License 981.222
Applicability of Other Law 981.223
Managing Underwriters
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 981.101’s source at texas​.gov