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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 F. REINSURANCE |
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Chapter 492. REINSURANCE FOR LIFE, HEALTH, AND ACCIDENT INSURANCE COMPANIES AND RELATED ENTITIES |
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Subchapter D. REQUIREMENTS FOR TRUST CREDIT ALLOWANCE |
Sec. 492.152. COMPOSITION OF TRUST
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(a) If the assuming insurer is a single insurer, the trust must:
(1) consist of a trusteed account representing the assuming insurer's liabilities attributable to business written in the United States; and
(2) include a trusteed surplus of at least $20 million.
(b) If the assuming insurer is a group of insurers that includes an unincorporated individual insurer:
(1) the trust must:
(A) consist of a trusteed account representing the group's liabilities attributable to business written in the United States; and
(B) include a trusteed surplus of at least $100 million; and
(2) the group shall make available to the department an annual certification by the group's domiciliary regulator and its independent public accountants of each underwriter's solvency.