Tex. Ins. Code § 981.007 · Subchapter A. GENERAL PROVISIONS
LIABILITY OF SURPLUS LINES INSURER FOR LOSSES AND UNEARNED PREMIUMS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) This section applies if:
(1) an eligible surplus lines insurer has assumed a risk under this chapter; and
(2) the surplus lines agent who placed the insurance has received the premium for that risk.
(b) If a coverage question between the eligible surplus lines insurer and the insured arises regarding the assumed risk, the insurer is considered to have received the premium due for that coverage.
(c) The eligible surplus lines insurer is liable to the insured for any:
(1) loss covered by the insurance; and
(2) unearned premium payable to the insured on cancellation of the insurance.
(d) This section applies without regard to whether the surplus lines agent is indebted to the insurer regarding the insurance or for any other cause.
(e) An eligible surplus lines insurer that assumes a risk under this chapter subjects itself to this section.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.981.htm
- Text hash
- sha256 cccc6c52edaf822f0d37b5a21632d1e0d91389ce320858f6cfa15a5a3b34557b
- 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
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.