Texas Insurance Code 4053.103 – Account Report
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(a) At least once each calendar quarter, a managing general agent shall submit an account report to each insurer with whom the agent has a contract.
(b) The account report must include, as applicable, a statement of:
(1) written, earned, and unearned premiums;
(2) losses and loss expenses paid and outstanding;
(3) losses incurred but not reported; and
(4) management fees.
Terms Used In Texas Insurance Code 4053.103
- Contract: A legal written agreement that becomes binding when signed.
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005