Texas Insurance Code 827.003 – Withdrawal Plan Required
Current as of: 2024 | Check for updates
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Terms Used In Texas Insurance Code 827.003
- Property: means real and personal property. See Texas Government Code 311.005
An insurer shall file with the commissioner a plan for orderly withdrawal if the insurer proposes to:
(1) reduce the insurer’s total annual premium volume by 50 percent or more;
(2) reduce the insurer’s annual premium by 75 percent or more in a line of insurance in this state; or
(3) reduce in this state, or in any applicable rating territory, the insurer’s total annual premium volume in a line of personal automobile or residential property insurance by 50 percent or more.