Texas Windstorm Insurance Association Act

Texas · IN · §§ 2210.001 to 2210.705 · 181 sections

Overview

The Texas Windstorm Insurance Association Act governs the availability of windstorm and hail insurance for property in designated catastrophe areas along the Texas coast, creating an insurer of last resort — the Texas Windstorm Insurance Association — for property that qualifies as insurable but cannot readily obtain coverage in the private market. It establishes the association's structure and governance, requiring participation by insurers writing property coverage in the state, setting standards of conduct for the board and employees, and subjecting the association to departmental oversight through rulemaking, examinations, audits (including of claims practices), annual statements, and biennial reporting to the legislature. Its central financial mechanism is a layered funding scheme for paying losses that exceed premium income: reserves and a trust fund first, then successive classes of public securities and member assessments, supplemented by reinsurance and state-funded financing arrangements.

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 § 2210.001PURPOSE
Tex. Ins. Code § 2210.002SHORT TITLE; SUNSET PROVISION
Tex. Ins. Code § 2210.0025BIENNIAL REPORT TO LEGISLATURE
Tex. Ins. Code § 2210.003GENERAL DEFINITIONS
Tex. Ins. Code § 2210.004DEFINITION OF INSURABLE PROPERTY
Tex. Ins. Code § 2210.005DESIGNATION AS CATASTROPHE AREA; REVOCATION OF DESIGNATION
Tex. Ins. Code § 2210.006APPLICABILITY OF CHAPTER TO CERTAIN INSURERS
Tex. Ins. Code § 2210.007IMMUNITY FROM LIABILITY IN GENERAL
Tex. Ins. Code § 2210.008DEPARTMENT ORDERS; GENERAL RULEMAKING AUTHORITY
Tex. Ins. Code § 2210.0081CERTAIN ACTIONS BROUGHT AGAINST ASSOCIATION BY COMMISSIONER
Tex. Ins. Code § 2210.009LIST OF PRIVATE INSURERS; INCENTIVE PLAN
Tex. Ins. Code § 2210.010CERTAIN CONDUCT IN DISPUTE RESOLUTION PROHIBITED
Tex. Ins. Code § 2210.012STANDARDS OF CONDUCT: BOARD OF DIRECTORS AND EMPLOYEES; REPORT OF CERTAIN FRAUDULENT CONDUCT
Tex. Ins. Code § 2210.013CERTAIN EMPLOYMENT AND CONTRACTS PROHIBITED
Tex. Ins. Code § 2210.014APPLICABILITY OF CERTAIN OTHER LAW
Tex. Ins. Code § 2210.015STUDY OF MARKET INCENTIVES; BIENNIAL REPORTING
Tex. Ins. Code § 2210.016AGENT REQUIREMENTS
Tex. Ins. Code § 2210.051COMPOSITION OF ASSOCIATION; REQUIRED MEMBERSHIP
Tex. Ins. Code § 2210.052MEMBER PARTICIPATION IN ASSOCIATION
Tex. Ins. Code § 2210.053OPERATION OF ASSOCIATION
Tex. Ins. Code § 2210.054ANNUAL STATEMENT
Tex. Ins. Code § 2210.055LEGAL COUNSEL
Tex. Ins. Code § 2210.056USE OF ASSOCIATION ASSETS
Tex. Ins. Code § 2210.057EXAMINATION OF ASSOCIATION
Tex. Ins. Code § 2210.058AUDIT OF ASSOCIATION
Tex. Ins. Code § 2210.059CLAIMS PRACTICES AUDIT
Tex. Ins. Code § 2210.060INDEMNIFICATION BY ASSOCIATION
Tex. Ins. Code § 2210.061CONTRACTORS AND MANAGERIAL EMPLOYEES: COMPENSATION AND BONUSES
Tex. Ins. Code § 2210.062ADMINISTRATION BY CONTRACTED ADMINISTRATOR AUTHORIZED
Tex. Ins. Code § 2210.070APPLICABILITY OF SUBCHAPTER
Tex. Ins. Code § 2210.071PAYMENT OF EXCESS LOSSES
Tex. Ins. Code § 2210.0715PAYMENT FROM RESERVES AND TRUST FUND
Tex. Ins. Code § 2210.072PAYMENT FROM CLASS 1 PUBLIC SECURITIES; FINANCIAL INSTRUMENTS
Tex. Ins. Code § 2210.0725PAYMENT FROM CLASS 1 ASSESSMENTS
Tex. Ins. Code § 2210.073PAYMENT FROM CLASS 2 PUBLIC SECURITIES
Tex. Ins. Code § 2210.074PAYMENT THROUGH CLASS 2 ASSESSMENTS
Tex. Ins. Code § 2210.0741PAYMENT THROUGH CLASS 3 PUBLIC SECURITIES
Tex. Ins. Code § 2210.0742PAYMENT FROM CLASS 3 ASSESSMENTS
Tex. Ins. Code § 2210.075REINSURANCE BY MEMBERS
Tex. Ins. Code § 2210.076PAYMENT FROM STATE-FUNDED FINANCING ARRANGEMENTS
Tex. Ins. Code § 2210.080APPLICABILITY OF SUBCHAPTER
Tex. Ins. Code § 2210.081PAYMENT OF EXCESS LOSSES
Tex. Ins. Code § 2210.082PAYMENT FROM RESERVES AND TRUST FUND; STATE-FUNDED FINANCING ARRANGEMENTS
Tex. Ins. Code § 2210.083PAYMENT FROM MEMBER ASSESSMENTS
Tex. Ins. Code § 2210.084REINSURANCE BY MEMBERS FOR MEMBER ASSESSMENTS
Tex. Ins. Code § 2210.101ACCOUNTABLE TO COMMISSIONER
Tex. Ins. Code § 2210.102COMPOSITION
Tex. Ins. Code § 2210.103TERMS
Tex. Ins. Code § 2210.1031TRAINING
Tex. Ins. Code § 2210.104OFFICERS
Tex. Ins. Code § 2210.105MEETINGS
Tex. Ins. Code § 2210.1051MEETINGS OF BOARD OF DIRECTORS
Tex. Ins. Code § 2210.1052EMERGENCY MEETING
Tex. Ins. Code § 2210.106IMMUNITY OF DIRECTOR OR OFFICER FROM LIABILITY
Tex. Ins. Code § 2210.107PRIMARY BOARD OBJECTIVES; REPORT
Tex. Ins. Code § 2210.108OPEN MEETINGS AND OPEN RECORDS
Tex. Ins. Code § 2210.109DISCLOSURE OF CONFLICTS
Tex. Ins. Code § 2210.151ADOPTION OF PLAN OF OPERATION
Tex. Ins. Code § 2210.152CONTENTS OF PLAN OF OPERATION
Tex. Ins. Code § 2210.153AMENDMENTS TO PLAN OF OPERATION
Tex. Ins. Code § 2210.201DEFINITION OF INSURABLE INTEREST
Tex. Ins. Code § 2210.202APPLICATION FOR COVERAGE; DECLINATION REQUIREMENT
Tex. Ins. Code § 2210.203ISSUANCE OF COVERAGE; TERM; RENEWAL
Tex. Ins. Code § 2210.2031AUTOMATIC RENEWAL
Tex. Ins. Code § 2210.2032PREMIUM PAYMENT METHODS
Tex. Ins. Code § 2210.204CANCELLATION OF CERTAIN COVERAGE
Tex. Ins. Code § 2210.2041NONREFUNDABLE SURCHARGE
Tex. Ins. Code § 2210.205REQUIRED POLICY PROVISIONS: DEADLINE FOR FILING CLAIM; NOTICE CONCERNING RESOLUTION OF CERTAIN DISPUTES
Tex. Ins. Code § 2210.207WINDSTORM AND HAIL INSURANCE: REPLACEMENT COST COVERAGE
Tex. Ins. Code § 2210.208WINDSTORM AND HAIL INSURANCE: COVERAGE FOR CERTAIN INDIRECT LOSSES
Tex. Ins. Code § 2210.209WINDSTORM AND HAIL INSURANCE: COVERAGE FOR CERTAIN PROPERTY LOCATED OVER WATER
Tex. Ins. Code § 2210.210COVERAGE OF CERTAIN STRUCTURES PROHIBITED
Tex. Ins. Code § 2210.251PLAN OF OPERATION COMPLIANCE REQUIREMENTS
Tex. Ins. Code § 2210.2515ISSUANCE OF CERTIFICATES OF COMPLIANCE
Tex. Ins. Code § 2210.252INTERNATIONAL RESIDENTIAL CODE BUILDING SPECIFICATIONS
Tex. Ins. Code § 2210.253INSURER ASSESSMENT: FIRST TIER COASTAL COUNTY
Tex. Ins. Code § 2210.254QUALIFIED INSPECTORS
Tex. Ins. Code § 2210.2551ENFORCEMENT AUTHORITY; RULES
Tex. Ins. Code § 2210.256DISCIPLINARY PROCEEDINGS REGARDING APPOINTED INSPECTORS AND CERTAIN OTHER PERSONS
Tex. Ins. Code § 2210.257DEPOSIT OF FEES
Tex. Ins. Code § 2210.258COMPLIANCE WITH BUILDING CODES; ELIGIBILITY
Tex. Ins. Code § 2210.259SURCHARGE FOR CERTAIN NONCOMPLIANT STRUCTURES
Tex. Ins. Code § 2210.351ASSOCIATION FILINGS
Tex. Ins. Code § 2210.3511PUBLIC ACCESS TO RATE ADEQUACY ANALYSIS
Tex. Ins. Code § 2210.3512REQUIREMENT FOR VOTE ON RATE FILING
Tex. Ins. Code § 2210.352MANUAL RATE FILINGS: ANNUAL FILING
Tex. Ins. Code § 2210.353MANUAL RATE FILINGS: AMENDED ANNUAL FILING
Tex. Ins. Code § 2210.354MANUAL RATE FILINGS: ADDITIONAL SUPPORTING INFORMATION
Tex. Ins. Code § 2210.355GENERAL RATE REQUIREMENTS; RATE STANDARDS
Tex. Ins. Code § 2210.357RATE CLASSIFICATIONS
Tex. Ins. Code § 2210.358EXPERIENCE DATA
Tex. Ins. Code § 2210.359LIMITATION ON CERTAIN RATE CHANGES
Tex. Ins. Code § 2210.361ASSOCIATION RECOMMENDATIONS REGARDING REDUCTIONS IN COVERAGES OR INCREASES IN DEDUCTIBLES
Tex. Ins. Code § 2210.362IMPLIED CONSENT BY APPLICANT FOR INSURANCE COVERAGE
Tex. Ins. Code § 2210.363PREMIUM DISCOUNTS; SURCHARGE CREDITS
Tex. Ins. Code § 2210.451DEFINITION
Tex. Ins. Code § 2210.452ESTABLISHMENT AND USE OF TRUST FUND
Tex. Ins. Code § 2210.4521INVESTMENT OF TRUST FUND BALANCES
Tex. Ins. Code § 2210.453FUNDING LEVELS; REINSURANCE AND ALTERNATIVE RISK FINANCING MECHANISMS; REINSURANCE FROM CERTAIN INSURER OR BROKER PROHIBITED
Tex. Ins. Code § 2210.454MITIGATION AND PREPAREDNESS PLAN
Tex. Ins. Code § 2210.455CATASTROPHE PLAN
Tex. Ins. Code § 2210.501MAXIMUM LIABILITY LIMITS
Tex. Ins. Code § 2210.502ADJUSTMENTS TO MAXIMUM LIABILITY LIMITS
Tex. Ins. Code § 2210.503FILING OF PROPOSED ADJUSTMENTS WITH COMMISSIONER
Tex. Ins. Code § 2210.504COMMISSIONER ACTION ON PROPOSED ADJUSTMENTS
Tex. Ins. Code § 2210.505REINSURED EXCESS LIMITS
Tex. Ins. Code § 2210.506EXCEPTION FROM CERTAIN ADMINISTRATIVE PROCEDURES
Tex. Ins. Code § 2210.551APPEALS
Tex. Ins. Code § 2210.554VOLUNTARY ARBITRATION OF CERTAIN COVERAGE AND CLAIM DISPUTES
Tex. Ins. Code § 2210.571DEFINITIONS
Tex. Ins. Code § 2210.572EXCLUSIVE REMEDIES AND LIMITATION ON AWARD
Tex. Ins. Code § 2210.573FILING OF CLAIM; CLAIM PROCESSING
Tex. Ins. Code § 2210.5731PAYMENT OF CLAIM
Tex. Ins. Code § 2210.5732SUPPLEMENTAL PAYMENTS
Tex. Ins. Code § 2210.574DISPUTES CONCERNING AMOUNT OF ACCEPTED COVERAGE
Tex. Ins. Code § 2210.5741REPLACEMENT COST COVERAGE CLAIM PROCESSING
Tex. Ins. Code § 2210.575DISPUTES CONCERNING DENIED COVERAGE
Tex. Ins. Code § 2210.576ISSUES BROUGHT TO SUIT; LIMITATIONS ON RECOVERY
Tex. Ins. Code § 2210.577LIMITATIONS PERIOD
Tex. Ins. Code § 2210.578EXPERT PANEL
Tex. Ins. Code § 2210.579CONSTRUCTION WITH OTHER LAW
Tex. Ins. Code § 2210.580RULEMAKING
Tex. Ins. Code § 2210.581COMMISSIONER EXTENSION OF DEADLINES
Tex. Ins. Code § 2210.582OMBUDSMAN PROGRAM
Tex. Ins. Code § 2210.601FINDINGS
Tex. Ins. Code § 2210.6015APPLICABILITY OF SUBCHAPTER
Tex. Ins. Code § 2210.602DEFINITIONS
Tex. Ins. Code § 2210.603APPLICABILITY OF OTHER LAWS
Tex. Ins. Code § 2210.604ISSUANCE OF PUBLIC SECURITIES AUTHORIZED
Tex. Ins. Code § 2210.605TERMS OF ISSUANCE
Tex. Ins. Code § 2210.606ADDITIONAL COVENANTS
Tex. Ins. Code § 2210.607PUBLIC SECURITY PROCEEDS
Tex. Ins. Code § 2210.608USE OF PUBLIC SECURITY PROCEEDS
Tex. Ins. Code § 2210.609REPAYMENT OF ASSOCIATION'S PUBLIC SECURITY OBLIGATIONS
Tex. Ins. Code § 2210.610PUBLIC SECURITY PAYMENTS
Tex. Ins. Code § 2210.611EXCESS REVENUE COLLECTIONS AND INVESTMENT EARNINGS
Tex. Ins. Code § 2210.612PAYMENT OF CLASS 1 PUBLIC SECURITIES
Tex. Ins. Code § 2210.613PAYMENT OF CLASS 2 PUBLIC SECURITIES
Tex. Ins. Code § 2210.6131PAYMENT OF CLASS 3 PUBLIC SECURITIES
Tex. Ins. Code § 2210.6132CONTINGENT SOURCE OF PAYMENT FOR CLASS 2 AND CLASS 3 PUBLIC SECURITIES
Tex. Ins. Code § 2210.614REFINANCING PUBLIC SECURITIES
Tex. Ins. Code § 2210.615SOURCE OF PAYMENT; STATE DEBT NOT CREATED
Tex. Ins. Code § 2210.616STATE NOT TO IMPAIR PUBLIC SECURITY OBLIGATIONS
Tex. Ins. Code § 2210.6165PROPERTY RIGHTS
Tex. Ins. Code § 2210.617ENFORCEMENT BY MANDAMUS
Tex. Ins. Code § 2210.618EXEMPTION FROM TAXATION
Tex. Ins. Code § 2210.619NO PERSONAL LIABILITY
Tex. Ins. Code § 2210.620AUTHORIZED INVESTMENTS
Tex. Ins. Code § 2210.631DEFINITION
Tex. Ins. Code § 2210.6315STATE-FUNDED FINANCING ARRANGEMENTS
Tex. Ins. Code § 2210.632FINANCING ARRANGEMENT AUTHORIZED; LIMITS
Tex. Ins. Code § 2210.6325REQUEST TO ENTER INTO FINANCING ARRANGEMENT
Tex. Ins. Code § 2210.633ADDITIONAL COVENANTS
Tex. Ins. Code § 2210.6335DEPOSIT OF PROCEEDS
Tex. Ins. Code § 2210.634USE OF PROCEEDS
Tex. Ins. Code § 2210.6345REPAYMENT OF FINANCING ARRANGEMENT OBLIGATION
Tex. Ins. Code § 2210.635EXCESS REVENUE COLLECTIONS AND INVESTMENT EARNINGS
Tex. Ins. Code § 2210.6355SOURCE OF PAYMENT; STATE DEBT NOT CREATED
Tex. Ins. Code § 2210.636STATE NOT TO IMPAIR FINANCING ARRANGEMENT OBLIGATION
Tex. Ins. Code § 2210.6365RIGHTS WITH RESPECT TO FINANCING ARRANGEMENT
Tex. Ins. Code § 2210.637ENFORCEMENT
Tex. Ins. Code § 2210.6375NO PERSONAL LIABILITY
Tex. Ins. Code § 2210.641DEFINITION
Tex. Ins. Code § 2210.642APPLICABILITY OF SUBCHAPTER
Tex. Ins. Code § 2210.6425CONSTRUCTION OF SUBCHAPTER
Tex. Ins. Code § 2210.643ANNUAL FINANCIAL REPORT BY COMMISSIONER
Tex. Ins. Code § 2210.6435CATASTROPHE SURCHARGES
Tex. Ins. Code § 2210.644CATASTROPHE SURCHARGE PROCEEDS
Tex. Ins. Code § 2210.6445DISCLOSURE OF SURCHARGE
Tex. Ins. Code § 2210.645EXEMPTION FROM TAXATION
Tex. Ins. Code § 2210.6455LIMITATION OF PERSONAL LIABILITY
Tex. Ins. Code § 2210.646EXEMPTION FROM SURCHARGE
Tex. Ins. Code § 2210.651DEFINITION
Tex. Ins. Code § 2210.652COMPOSITION OF BOARD
Tex. Ins. Code § 2210.653POWERS AND DUTIES OF BOARD
Tex. Ins. Code § 2210.654REPORT
Tex. Ins. Code § 2210.701DEPOPULATION PROGRAM
Tex. Ins. Code § 2210.702ASSUMPTION REINSURANCE DEPOPULATION
Tex. Ins. Code § 2210.703RENEWAL OF REINSURED POLICIES; COMPARABLE COVERAGE
Tex. Ins. Code § 2210.704CONFIDENTIALITY OF INFORMATION; USE OF POLICYHOLDER'S AGENT
Tex. Ins. Code § 2210.705TRANSFER OF POLICIES

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