Texas Administrative Code
Title 28 - INSURANCE
Part 1 - TEXAS DEPARTMENT OF INSURANCE
Chapter 5 - PROPERTY AND CASUALTY INSURANCE
Subchapter E - TEXAS WINDSTORM INSURANCE ASSOCIATION
Division 3 - LOSS FUNDING, INCLUDING CATASTROPHE RESERVE TRUST FUND, FINANCING ARRANGEMENTS, AND PUBLIC SECURITIES
Section 5.4187 - Offsets
Universal Citation: 28 TX Admin Code § 5.4187
Current through Reg. 50, No. 13; March 28, 2025
(a) An insurer may credit a contingent surcharge amount on its next remission to the association if the insurer has already remitted the amount to the association for:
(1) the portion of the surcharge the insurer
was not able to collect from the policyholder, if the policy was canceled or
expired;
(2) the portion of the
surcharge remitted to the association, or deposited directly in the premium
surcharge trust fund, that was later refunded to the policyholder as a result
of a rescission, midterm cancellation, or midterm policy change, as described
in § 5.4184 of this division (relating to Application of Premium
Surcharges); or
(3) the portion of
a surcharge remitted to the association, or deposited directly in the premium
surcharge trust fund or funds, in excess of a deposit premium as described in
§ 5.4184 of this division.
(b) An agent may not offset payment of a contingent surcharge or an association surcharge to the insurer for any reason; however, a surplus lines agent allowed by an affiliated surplus lines insurer to remit contingent surcharges to the association on its behalf under § 5.4186(a) of this division (relating to Remittance of Contingent Surcharges), may offset as provided in this section.
Disclaimer: These regulations may not be the most recent version. Texas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
