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Texas Laws | Insurance Code
INSURANCE CODE
TITLE 10. PROPERTY AND CASUALTY INSURANCE

(3) "Home warranty insurance" means coverage: (43232)

(A) insuring performance by a builder of residential property of the builder's warranty obligations to a purchaser of the residential property; or (43233)

(B) insuring against named defects arising from failure of the builder to construct residential property in accordance with specified construction standards. (43234)

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007. (43235)

Sec. 2005.002. AUTHORIZATION TO WRITE CERTAIN INSURANCE. (43236)(Text)

An insurer authorized to engage in the business of fire insurance and allied lines or inland marine insurance may write home warranty insurance or home protection insurance in this state. (43237)

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007. (43238)

Sec. 2005.003. MANNER OF REGULATION. (43239)(Text)

Home warranty insurance or home protection insurance is not inland marine insurance, but is governed in the same manner and to the same extent as inland marine insurance. (43240)

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007. (43241)

Sec. 2005.004. LIMITS OF COVERAGE. (43242)(Text)

The amount of coverage under a home protection insurance policy may not exceed $2,000 for any single occurrence. (43243)

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007. (43244)

CHAPTER 2006. PREMIUM RATE DISCOUNTS AND RATING PROGRAMS (43245)(Text)

SUBCHAPTER A. OPTIONAL PREMIUM DISCOUNT FOR USE OF INSULATING CONCRETE FORM SYSTEM (43246)(Text)
Sec. 2006.001. DEFINITIONS. (43247)(Text)

In this subchapter: (43248)

(1) "Applicant" includes: (43249)

(A) an applicant for new insurance coverage; and (43250)

(B) a policyholder renewing insurance coverage. (43251)

(2) "Insulating concrete form system" means a building construction system primarily used to frame exterior walls in which polystyrene foam forms are placed in the walls of a structure under construction and filled with concrete and steel reinforcing material to become a permanent part of the structure. (43252)

(3) "Insurer" means an insurer authorized to write property and casualty insurance in this state, including: (43253)

(A) a county mutual insurance company; (43254)

(B) a farm mutual insurance company; (43255)

(C) a Lloyd's plan; and (43256)

(D) a reciprocal or interinsurance exchange. (43257)

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007. (43258)

Sec. 2006.002. OPTIONAL PREMIUM DISCOUNT. (43259)(Text)

(a) In accordance with the rules adopted by the commissioner under this subchapter, an insurer may grant to an applicant a discount in the applicant's homeowners insurance premiums for insured property on receipt of written verification from the applicant that the property was constructed with an insulating concrete form system. (43260)

(b) The commissioner by rule shall prescribe the requirements for determining that a structure was constructed with an insulating concrete form system. (43261)

(c) Verification under this section must comply with the requirements prescribed by the commissioner. (43262)

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007. (43263)

Sec. 2006.003. PROPERTY INSPECTION. (43264)(Text)

(a) If determined necessary by the commissioner, the rules adopted under this subchapter may require an inspection of the property to be insured. (43265)

(b) The applicant shall pay the costs of a required inspection. (43266)

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007. (43267)

Sec. 2006.004. PREMIUM DISCOUNT; EXCEPTION. (43268)(Text)

(a) The commissioner by rule shall establish the premium discount under this subchapter based on sound actuarial principles. (43269)

(b) The commissioner may approve a premium discount greater or less than the discount established by rule under Subsection (a) if: (43270)

(1) the insurer files the proposed discount with the department; and (43271)

(2) the commissioner determines that the proposed discount is actuarially justified. (43272)

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007. (43273)

Sec. 2006.005. RULES. (43274)(Text)

The commissioner may adopt rules as necessary to implement this subchapter in addition to other rules adopted under this subchapter. (43275)

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007. (43276)

SUBCHAPTER B. OPTIONAL PREMIUM DISCOUNTS AND RATING PROGRAMS FOR CERTAIN RESIDENTIAL PROPERTY INSURANCE POLICIES (43277)(Text)
Sec. 2006.051. DEFINITIONS. (43278)(Text)

In this subchapter: (43279)

(1) "Affiliate" means an entity classified as an affiliate under Section 823.003. (43280)

(2) "Insurer" means an insurer authorized to write residential property insurance, including: (43281)

(A) a county mutual insurance company; (43282)

(B) a farm mutual insurance company; (43283)

(C) a Lloyd's plan; and (43284)

(D) a reciprocal or interinsurance exchange. (43285)

(3) "Residential property insurance" means property or property and casualty insurance covering a dwelling, including: (43286)

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