Sec. 2053.203. PAYMENT OF CLAIMS; REIMBURSEMENT. (a) An insurance company issuing a deductible policy under this subchapter shall service all claims that arise during the policy period, including those claims payable, wholly or partly, from the deductible amount.
(b) A deductible policy must provide that:
(1) the insurance company issuing the policy shall pay all benefits that are payable from the deductible amount; and
(2) the policyholder shall make reimbursements periodically, rather than at the time claim costs are incurred.
(c) The commissioner shall adopt rules to provide for adequate security for reimbursement of the amount paid by an insurance company that is payable from the deductible amount.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
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