Insurance Code § 2210.0715

The association must pay catastrophe-year losses from its available reserves and catastrophe reserve trust fund. Certain pre-2026 securities, financing arrangements, and assessments generally may not be counted in reserves for a later catastrophe year unless the commissioner approves.

Jurisdiction: United States — Texas
Instrument: Code
Version: Undated source snapshot
Language: en
Official source: View official record ↗

catastrophe losses reserves trust funds

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Provisions of Insurance Code § 2210.0715

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2210.0715
Insurance Code § 2210.0715
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The association must pay catastrophe-year losses from its available reserves and catastrophe reserve trust fund. Certain pre-2026 securities, financing arrangements, and assessments generally may not be counted in reserves for a later catastrophe year unless the commissioner approves.

Text of section effective until September 01, 2027 Sec. 2210.0715. PAYMENT FROM RESERVES AND TRUST FUND. (a) The association shall pay losses resulting from an occurrence or series of occurrences in a catastrophe year in excess of premium and other revenue of the association for that catastrophe year from reserves of the association available before or accrued during that catastrophe year and amounts in the catastrophe reserve trust fund available before or accrued during that catastrophe year. (b) Proceeds of public securities issued, a financing arrangement entered into, or assessments made before January 1, 2026, or as a result of any occurrence or series of occurrences in a catastrophe year that occurs before January 1, 2026, and results in insured losses before that date may not be included in reserves available for a subsequent catastrophe year for purposes of this section or Section 2210.082 unless approved by the commissioner. Added by Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900), Sec. 5, eff. September 1, 2015. Amended by: Acts 2019, 86th Leg., R.S., Ch. 790 (H.B. 1900), Sec. 2, eff. June 10, 2019. Acts 2025, 89th Leg., R.S., Ch. 895 (H.B. 3689), Sec. 1.06, eff. September 1, 2025. Repealed by Acts 2025, 89th Leg., R.S., Ch. 895 (H.B. 3689), Sec. 1.17(1), eff. September 1, 2027.

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Insurance Code § 2210.0715

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Provisions of Insurance Code § 2210.0715

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