Tex. Ins. Code § 2551.3055

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 2551.3055 - Reinsurance From Insurer Other Than Title Insurer

Notwithstanding any other provision of this subchapter, a title insurance company may obtain reinsurance by a reinsurance treaty or other reinsurance agreement from an assuming insurer with a financial strength rating of B+ or better from the A. M. Best Company, which reinsurance meets the requirements of Subchapter C, Chapter 493, if the title insurance company has provided the department with notice that:

(1) contains representations that the title insurance company was unable after diligent effort to procure sufficient reinsurance from another title insurance company; and

(2) summarizes the terms of the reinsurance treaty or other reinsurance agreement that the title insurance company will obtain.

Tex. Ins. Code § 2551.3055

Added by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 38,Sec. 3, eff. 9/1/2015.