Texas Labor Code 407.067 – Excess Insurance; Reinsurance; Administrative Violation
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(a) Each applicant shall obtain excess insurance or reinsurance to cover liability for losses not paid by the self-insurer in an amount not less than the amount required by the commissioner.
(b) The commissioner shall require excess insurance or reinsurance in at least the amount of $5 million per occurrence.
Terms Used In Texas Labor Code 407.067
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) A certified self-insurer shall notify the division not later than the 10th day after the date on which the certified self-insurer has notice of the cancellation or termination of excess insurance or reinsurance coverage required under this section.
(d) A person commits an administrative violation if the person violates Subsection (c).