Texas Insurance Code 941.154 – Assumption of Risk by Certain Affiliated Insurers
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Terms Used In Texas Insurance Code 941.154
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
An insurer who is subject to Article 5.26 may not directly or indirectly assume all or a substantial part of a risk covered by a policy written by a Lloyd’s plan that is an affiliate of the insurer if the risk is written at a rate less than the rate that may be lawfully charged by:
(1) the insurer; or
(2) one of the insurer’s affiliates that is subject to Article 5.26.