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Texas Statutes (Last Updated: January 4, 2014) |
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INSURANCE CODE |
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Title 10. PROPERTY AND CASUALTY INSURANCE |
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Subtitle G. POOLS, GROUPS, PLANS, AND SELF-INSURANCE |
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Chapter 2210. TEXAS WINDSTORM INSURANCE ASSOCIATION |
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Subchapter J. CATASTROPHE RESERVE TRUST FUND AND REINSURANCE PROGRAM |
Sec. 2210.454. MITIGATION AND PREPAREDNESS PLAN
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(a) The commissioner shall annually develop and implement a mitigation and preparedness plan.
(b) Each state fiscal year, the department may fund the mitigation and preparedness plan using available funds.
(c) The mitigation and preparedness plan must provide for actions to be taken in the seacoast territory by the commissioner, or by a local government, state agency, educational institution, or nonprofit organization designated by the commissioner in the plan, to implement programs to:
(1) improve preparedness for windstorm and hail catastrophes;
(2) reduce potential losses in the event of such a catastrophe; and
(3) provide research into the means to:
(A) reduce those losses;
(B) educate or inform the public in determining the appropriateness of particular upgrades to structures; or
(C) protect infrastructure from potential damage from those catastrophes.
(d) Money in excess of $1 million may not be used under this section if the commissioner determines that an expenditure of investment income from the trust fund would jeopardize the actuarial soundness of the fund or materially impair the ability of the fund to serve the state purposes for which the fund was established.