Tex. Insurance Code § 462.002
This is the official text of Tex. Insurance Code § 462.002, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 462.002. PURPOSES.
Official statutory text
The purposes of this chapter are to:
(1) provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment;
(2) avoid financial loss to claimants or policyholders because of an insurer's impairment;
(3) assist in the detection and prevention of insurer insolvencies; and
(4) provide an association to assess the cost of that protection among insurers.
(1) provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment;
(2) avoid financial loss to claimants or policyholders because of an insurer's impairment;
(3) assist in the detection and prevention of insurer insolvencies; and
(4) provide an association to assess the cost of that protection among insurers.
Status: in_force · Read it on the official government site
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