Texas Insurance Code 827.007 – Penalties
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Terms Used In Texas Insurance Code 827.007
- Year: means 12 consecutive months. See Texas Government Code 311.005
The commissioner may impose the civil penalties under Chapter 82 on an insurer that fails to obtain the commissioner’s approval before the insurer:
(1) withdraws from writing a line of insurance in this state; or
(2) reduces the insurer’s total annual premium volume by 75 percent or more in any year.