Tex. Ins. Code § 4152.215 · Subchapter E. REQUIREMENTS RELATING TO MANAGERS
PROHIBITIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A reinsurance intermediary acting as a manager may not:
(1) bind retrocessions on behalf of an insurer, except that the manager may bind facultative retrocessions under obligatory retrocessional agreements if the contract entered into with the insurer under Section 4152.201 contains reinsurance underwriting guidelines for those retrocessions that include:
(A) a list of reinsurers with whom those automatic agreements are in effect; and
(B) for each reinsurer:
(i) the coverages and amounts or percentages that may be reinsured; and
(ii) commission schedules;
(2) commit an insurer to participate in a reinsurance syndicate;
(3) appoint or contract with a broker without ensuring that the broker is qualified to act as a manager under this chapter;
(4) without prior approval of the insurer, pay or commit an insurer to pay a claim that exceeds the lesser of:
(A) an amount specified by the insurer; or
(B) one percent of the insurer's policyholders' surplus as of December 31 of the last complete calendar year; or
(5) collect a payment from a retrocessionaire or commit an insurer to a claim settlement with a retrocessionaire without prior approval of the insurer.
(b) If prior approval is given as provided by Subsection (a)(5), a report must be forwarded to the reinsurer as provided by Section 4152.203.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.4152.htm
- Text hash
- sha256 85994c54d74e38dcce0451aeb00a968ba5fa70583668689bd18baefb2363b5e9
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.