Texas Administrative Code
Title 16 - ECONOMIC REGULATION
Part 1 - RAILROAD COMMISSION OF TEXAS
Chapter 14 - REGULATIONS FOR LIQUEFIED NATURAL GAS (LNG)
Subchapter A - GENERAL APPLICABILITY AND REQUIREMENTS
Section 14.2034 - Self-Insurance Requirements
Current through Reg. 49, No. 12; March 22, 2024
(a) This section applies to a licensee's general liability insurance, including premises and operations coverage. This section shall not apply to worker's compensation insurance, including employer's liability coverage.
(b) A licensee applying for self-insurance shall file LNG Form 2027 with AFS along with materials which will allow AFS to determine whether:
(c) AFS may consider applications for approval of other securities or agreements, or may require any other information which may be necessary to ensure the application satisfies that the security or agreement offered will afford adequate security for protection of the public.
(d) AFS may approve a licensee's application for self-insurance if the licensee demonstrates to AFS its ability to satisfy its obligations for the minimum insurance requirements specified in § RSA 14.2031 of this title. AFS may approve the licensee as a self-insurer for a specific time period or for an indefinite period until further action is taken by AFS.
(e) The applicant shall file semi-annual reports and annual statements with the applicant's financial status and status of its self-insurance program with AFS during the period of its self-insurer status by March 10 and September 10 of each year.
(f) After ten days' notice to the applicant, AFS may require the applicant to appear and demonstrate that it continues to have adequate financial resources to pay all general liability, including premises and operations coverage claims, and that it remains in compliance with the other requirements of this section. If the applicant fails to do so, AFS shall revoke its self-insurer status and may order that the licensee is ineligible for self-insurance in the future.
(g) A state agency or institution, county, municipality, school district, or other governmental subdivision may meet the requirements for workers' compensation coverage or general liability and/or motor vehicle liability insurance if permitted by the Texas Workers' Compensation Act, Texas Labor Code, Title 5, Subtitle A; and Texas Natural Resources Code, § RSA 116.036, by submitting LNG Form 2995 to AFS.
(h) Letters of credit filed with LNG Form 2028 shall: