(a) A claim for unearned premiums is a covered claim. A covered claim for unearned premiums may not exceed $25,000.
(b) With respect to a covered claim for unearned premiums, a person has a covered claim under this chapter if the person is a resident of this state at the time:
(1) the policy is issued; or
(2) the insurer is determined to be an impaired insurer.

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Terms Used In Texas Insurance Code 462.202

  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005

(c) A person has a covered claim under this chapter if the person holds a valid assignment of a covered claim for unearned premiums under Subsections (a) and (b).