Tex. Ins. Code § 462.002

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

Section 462.002 - Purposes

The purposes of this chapter are to:

(1) provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment;

(2) avoid financial loss to claimants or policyholders because of an insurer's impairment;

(3) assist in the detection and prevention of insurer insolvencies; and

(4) provide an association to assess the cost of that protection among insurers.

Tex. Ins. Code § 462.002

Added by Acts 2005, 79th Leg., Ch. 727, Sec. 1, eff. 4/1/2007.