Texas Insurance Code 2201.203 – Agent to Verify Authority
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Terms Used In Texas Insurance Code 2201.203
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
Before placing business with a risk retention group, each agent shall secure from the appropriate insurance regulatory authority a certified copy of the certificate of authority verifying that the insurer is authorized in the insurer’s domiciliary jurisdiction to write the liability insurance policy the agent proposes to procure from the insurer.