Texas Insurance Code 542.006 – Periodic Reporting Requirement
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(a) In this section, “claim” means a written claim filed by a resident of this state with an insurer engaging in business in this state.
(b) If, based on complaints of unfair claim settlement practices under this subchapter, the department finds that an insurer should be subjected to closer supervision with respect to the insurer’s claim settlement practices, the department may require the insurer to file periodic reports at intervals the department determines necessary.
Terms Used In Texas Insurance Code 542.006
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) Repealed by Acts 2015, 84th Leg., R.S., Ch. 42 , Sec. 3.01(4), eff. September 1, 2015.
(d) If at any time the department determines that the requirement to file a periodic report is no longer necessary to accomplish the objectives of this subchapter, the department may rescind the reporting requirement.