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Texas Statutes (Last Updated: January 4, 2014) |
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INSURANCE CODE |
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Title 4. REGULATION OF SOLVENCY |
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Subtitle D. GUARANTY ASSOCIATIONS |
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Chapter 462. TEXAS PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION |
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Subchapter E. COVERED CLAIMS; CLAIMANTS |
Sec. 462.201. COVERED CLAIMS IN GENERAL
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A claim is a covered claim if:
(1) the claim is an unpaid claim;
(2) the claim is made under an insurance policy to which this chapter applies that is:
(A) issued by an insurer authorized to engage in business in this state; or
(B) assumed by an insurer authorized to engage in business in this state that issues an assumption certificate to the insured;
(3) the claim arises out of the policy and is within the coverage and applicable limits of the policy;
(4) the insurer that issued the policy or assumed the policy under an assumption certificate issued to the insured is an impaired insurer; and
(5) the claim:
(A) is made by a liability claimant or insured who is a resident of this state at the time of the insured event; or
(B) is a first-party claim for damage to property that is permanently located in this state.