State Codes and Statutes

Statutes > Texas > Insurance-code > Title-10-property-and-casualty-insurance > Chapter-2004-residential-property-insurance-in-underserved-areas

INSURANCE CODE

TITLE 10. PROPERTY AND CASUALTY INSURANCE

SUBTITLE D. FIRE INSURANCE AND ALLIED LINES,

INCLUDING RESIDENTIAL PROPERTY INSURANCE

CHAPTER 2004. RESIDENTIAL PROPERTY INSURANCE IN UNDERSERVED AREAS

Sec. 2004.001. DEFINITION. In this chapter, "residential

property insurance" means insurance against loss to real or

tangible personal property at a fixed location that is provided

through a homeowners insurance policy, residential fire and

allied lines insurance policy, or farm and ranch owners insurance

policy.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.002. DESIGNATION OF UNDERSERVED AREAS. (a) The

commissioner by rule may designate an area as an underserved area

for residential property insurance.

(b) In determining which areas to designate as underserved, the

commissioner shall consider:

(1) whether residential property insurance is not reasonably

available to a substantial number of owners of insurable property

in the area; and

(2) any other relevant factor as determined by the commissioner.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.003. AUTHORIZATION FOR ISSUANCE OF INSURANCE. An

insurer authorized to write property or casualty insurance in

this state, including a Lloyd's plan and a reciprocal or

interinsurance exchange, that writes residential property

insurance in this state may write that insurance on forms adopted

under this chapter.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.004. EXCLUSION OF CERTAIN COVERAGE. Insurance

provided under this chapter may not include windstorm and hail

insurance coverage for a risk eligible for that coverage under

Chapter 2210.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.005. AVAILABILITY OF COVERAGE. In a designated

underserved area, each insurer described by Section 2004.003

shall provide to the insurer's agents, and the agents shall offer

to all insureds, the full range of coverages prescribed under

this chapter subject to the insurer's applicable rates and

underwriting guidelines.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.006. POLICY FORMS. (a) The commissioner shall adopt

policy forms for residential property insurance that are

specifically for use in designated underserved areas. The policy

forms must include a basic policy covering fire and allied lines

perils with endorsements providing additional coverage at the

insured's option.

(b) An insurer writing insurance in an underserved area may use

the policy forms adopted under this chapter.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.007. INAPPLICABILITY OF CERTAIN LAWS TO PREMIUMS. The

premium for an insurance policy written under this chapter is

not:

(1) subject to tax under Chapter 221; and

(2) considered net direct premiums under Section 2210.003(7).

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.008. RATES. Rates for coverage provided under this

chapter are determined according to the provisions of this code

applicable to the insurer providing the coverage.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

State Codes and Statutes

Statutes > Texas > Insurance-code > Title-10-property-and-casualty-insurance > Chapter-2004-residential-property-insurance-in-underserved-areas

INSURANCE CODE

TITLE 10. PROPERTY AND CASUALTY INSURANCE

SUBTITLE D. FIRE INSURANCE AND ALLIED LINES,

INCLUDING RESIDENTIAL PROPERTY INSURANCE

CHAPTER 2004. RESIDENTIAL PROPERTY INSURANCE IN UNDERSERVED AREAS

Sec. 2004.001. DEFINITION. In this chapter, "residential

property insurance" means insurance against loss to real or

tangible personal property at a fixed location that is provided

through a homeowners insurance policy, residential fire and

allied lines insurance policy, or farm and ranch owners insurance

policy.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.002. DESIGNATION OF UNDERSERVED AREAS. (a) The

commissioner by rule may designate an area as an underserved area

for residential property insurance.

(b) In determining which areas to designate as underserved, the

commissioner shall consider:

(1) whether residential property insurance is not reasonably

available to a substantial number of owners of insurable property

in the area; and

(2) any other relevant factor as determined by the commissioner.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.003. AUTHORIZATION FOR ISSUANCE OF INSURANCE. An

insurer authorized to write property or casualty insurance in

this state, including a Lloyd's plan and a reciprocal or

interinsurance exchange, that writes residential property

insurance in this state may write that insurance on forms adopted

under this chapter.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.004. EXCLUSION OF CERTAIN COVERAGE. Insurance

provided under this chapter may not include windstorm and hail

insurance coverage for a risk eligible for that coverage under

Chapter 2210.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.005. AVAILABILITY OF COVERAGE. In a designated

underserved area, each insurer described by Section 2004.003

shall provide to the insurer's agents, and the agents shall offer

to all insureds, the full range of coverages prescribed under

this chapter subject to the insurer's applicable rates and

underwriting guidelines.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.006. POLICY FORMS. (a) The commissioner shall adopt

policy forms for residential property insurance that are

specifically for use in designated underserved areas. The policy

forms must include a basic policy covering fire and allied lines

perils with endorsements providing additional coverage at the

insured's option.

(b) An insurer writing insurance in an underserved area may use

the policy forms adopted under this chapter.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.007. INAPPLICABILITY OF CERTAIN LAWS TO PREMIUMS. The

premium for an insurance policy written under this chapter is

not:

(1) subject to tax under Chapter 221; and

(2) considered net direct premiums under Section 2210.003(7).

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.008. RATES. Rates for coverage provided under this

chapter are determined according to the provisions of this code

applicable to the insurer providing the coverage.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.


State Codes and Statutes

State Codes and Statutes

Statutes > Texas > Insurance-code > Title-10-property-and-casualty-insurance > Chapter-2004-residential-property-insurance-in-underserved-areas

INSURANCE CODE

TITLE 10. PROPERTY AND CASUALTY INSURANCE

SUBTITLE D. FIRE INSURANCE AND ALLIED LINES,

INCLUDING RESIDENTIAL PROPERTY INSURANCE

CHAPTER 2004. RESIDENTIAL PROPERTY INSURANCE IN UNDERSERVED AREAS

Sec. 2004.001. DEFINITION. In this chapter, "residential

property insurance" means insurance against loss to real or

tangible personal property at a fixed location that is provided

through a homeowners insurance policy, residential fire and

allied lines insurance policy, or farm and ranch owners insurance

policy.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.002. DESIGNATION OF UNDERSERVED AREAS. (a) The

commissioner by rule may designate an area as an underserved area

for residential property insurance.

(b) In determining which areas to designate as underserved, the

commissioner shall consider:

(1) whether residential property insurance is not reasonably

available to a substantial number of owners of insurable property

in the area; and

(2) any other relevant factor as determined by the commissioner.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.003. AUTHORIZATION FOR ISSUANCE OF INSURANCE. An

insurer authorized to write property or casualty insurance in

this state, including a Lloyd's plan and a reciprocal or

interinsurance exchange, that writes residential property

insurance in this state may write that insurance on forms adopted

under this chapter.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.004. EXCLUSION OF CERTAIN COVERAGE. Insurance

provided under this chapter may not include windstorm and hail

insurance coverage for a risk eligible for that coverage under

Chapter 2210.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.005. AVAILABILITY OF COVERAGE. In a designated

underserved area, each insurer described by Section 2004.003

shall provide to the insurer's agents, and the agents shall offer

to all insureds, the full range of coverages prescribed under

this chapter subject to the insurer's applicable rates and

underwriting guidelines.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.006. POLICY FORMS. (a) The commissioner shall adopt

policy forms for residential property insurance that are

specifically for use in designated underserved areas. The policy

forms must include a basic policy covering fire and allied lines

perils with endorsements providing additional coverage at the

insured's option.

(b) An insurer writing insurance in an underserved area may use

the policy forms adopted under this chapter.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.007. INAPPLICABILITY OF CERTAIN LAWS TO PREMIUMS. The

premium for an insurance policy written under this chapter is

not:

(1) subject to tax under Chapter 221; and

(2) considered net direct premiums under Section 2210.003(7).

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 2004.008. RATES. Rates for coverage provided under this

chapter are determined according to the provisions of this code

applicable to the insurer providing the coverage.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.