Texas Statutes (Last Updated: January 4, 2014) |
INSURANCE CODE |
Title 5. PROTECTION OF CONSUMER INTERESTS |
Subtitle C. DECEPTIVE, UNFAIR, AND PROHIBITED PRACTICES |
Chapter 542. PROCESSING AND SETTLEMENT OF CLAIMS |
Subchapter B. PROMPT PAYMENT OF CLAIMS |
Sec. 542.060. LIABILITY FOR VIOLATION OF SUBCHAPTER
Latest version.
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(a) If an insurer that is liable for a claim under an insurance policy is not in compliance with this subchapter, the insurer is liable to pay the holder of the policy or the beneficiary making the claim under the policy, in addition to the amount of the claim, interest on the amount of the claim at the rate of 18 percent a year as damages, together with reasonable attorney's fees.
(b) If a suit is filed, the attorney's fees shall be taxed as part of the costs in the case.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.