Standard Valuation Law
Texas · IN · §§ 425.051 to 425.077 · 29 sections
Overview
The Standard Valuation Law governs how insurers value the liabilities carried on their statutory financial statements, setting minimum reserve standards across lines of business — life, annuity and endowment, accident and health, casualty, title, mortgage guaranty, and unearned premium reserves including marine and transportation — and defining which assets may be admitted in that accounting. It prescribes the methods used to compute reserves, including the commissioners reserve valuation method and a principle-based valuation framework operating under a valuation manual, and requires insurers to maintain aggregate, contingency, and deficiency reserves and to file an annual actuarial opinion attesting that reserves are appropriately computed and comply with state law. It also frames the regulator's supporting authority: required data submissions and their confidential treatment, exemptions for particular products or product lines, penalties for transactions that misstate asset positions, and rulemaking to implement the standards.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
Sections covered
- Tex. Ins. Code § 425.051SHORT TITLE
- Tex. Ins. Code § 425.052DEFINITIONS
- Tex. Ins. Code § 425.053ANNUAL VALUATION OF RESERVES FOR POLICIES AND CONTRACTS ISSUED BEFORE OPERATIVE DATE OF VALUATION MANUAL
- Tex. Ins. Code § 425.0535ANNUAL VALUATION OF RESERVES FOR POLICIES AND CONTRACTS ISSUED ON OR AFTER OPERATIVE DATE OF VALUATION MANUAL
- Tex. Ins. Code § 425.054ACTUARIAL OPINION OF RESERVES ISSUED BEFORE OPERATIVE DATE OF VALUATION MANUAL
- Tex. Ins. Code § 425.0545ACTUARIAL OPINION OF RESERVES AFTER OPERATIVE DATE OF VALUATION MANUAL
- Tex. Ins. Code § 425.055SUPPORTING MEMORANDUM FOR ACTUARIAL OPINION
- Tex. Ins. Code § 425.056LIMITATION ON LIABILITY FOR ACTUARIAL OPINION
- Tex. Ins. Code § 425.057DISCIPLINARY ACTION: COMPANY OR PERSON CERTIFYING OPINION
- Tex. Ins. Code § 425.058COMPUTATION OF MINIMUM STANDARD: GENERAL RULE
- Tex. Ins. Code § 425.059COMPUTATION OF MINIMUM STANDARD FOR CERTAIN ANNUITIES AND PURE ENDOWMENT CONTRACTS
- Tex. Ins. Code § 425.060APPLICABILITY OF CALENDAR YEAR STATUTORY VALUATION INTEREST RATES
- Tex. Ins. Code § 425.061COMPUTATION OF CALENDAR YEAR STATUTORY VALUATION INTEREST RATE: GENERAL RULE
- Tex. Ins. Code § 425.062WEIGHTING FACTORS
- Tex. Ins. Code § 425.063REFERENCE INTEREST RATE
- Tex. Ins. Code § 425.064COMMISSIONERS RESERVE VALUATION METHOD FOR LIFE INSURANCE AND ENDOWMENT BENEFITS
- Tex. Ins. Code § 425.065COMMISSIONERS ANNUITY RESERVE VALUATION METHOD FOR ANNUITY AND PURE ENDOWMENT BENEFITS
- Tex. Ins. Code § 425.066MINIMUM AGGREGATE RESERVES
- Tex. Ins. Code § 425.067OPTIONAL RESERVE COMPUTATIONS
- Tex. Ins. Code § 425.068RESERVE COMPUTATION: GROSS PREMIUM CHARGED LESS THAN VALUATION NET PREMIUM
- Tex. Ins. Code § 425.069RESERVE COMPUTATION: INDETERMINATE PREMIUM PLANS AND CERTAIN OTHER PLANS
- Tex. Ins. Code § 425.070COMPUTATION OF RESERVE FOR CERTAIN POLICIES BY CALENDAR YEAR OF ISSUE
- Tex. Ins. Code § 425.071LAPSE RATES IN MINIMUM STANDARD OF VALUATION
- Tex. Ins. Code § 425.072MINIMUM STANDARD FOR ACCIDENT AND HEALTH INSURANCE CONTRACTS
- Tex. Ins. Code § 425.073VALUATION MANUAL FOR POLICIES ISSUED ON OR AFTER THE OPERATIVE DATE OF THE VALUATION MANUAL
- Tex. Ins. Code § 425.074REQUIREMENTS OF A PRINCIPLE-BASED VALUATION
- Tex. Ins. Code § 425.075EXPERIENCE REPORTING FOR POLICIES IN FORCE ON OR AFTER OPERATIVE DATE OF VALUATION MANUAL
- Tex. Ins. Code § 425.076CONFIDENTIALITY
- Tex. Ins. Code § 425.077SINGLE STATE EXEMPTION
Enacted in other states
Alabama, Arkansas, California, Connecticut, Delaware, Florida, Georgia, Iowa, Kentucky, Minnesota, Mississippi, North Carolina, New Hampshire, New Mexico, Rhode Island, Tennessee, Vermont
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