§ 8202. Scope
(a) The requirements of this chapter apply to any insurer authorized to transact business in this State who contracts to assume or transfer the obligations or risks on contracts of insurance, including annuities, pursuant to an assumption reinsurance agreement.
(b) This chapter does not apply to:
(1) any reinsurance agreement or transaction in which the ceding insurer continues to remain directly liable for insurance obligations or risks under the contracts of insurance that are subject to the reinsurance agreement;
(2) the substitution of one insurer for another upon the expiration of insurance coverage pursuant to statutory or contractual requirements and the issuance of a new contract of insurance by another insurer;
(3) the transfer of contracts of insurance pursuant to a merger or consolidation of two or more insurers to the extent that those transactions are regulated by statute;
(4) any insurer subject to a judicial order of liquidation or rehabilitation;
(5) any reinsurance agreement or transaction to which a state insurance guaranty association is a party, provided that policyholders do not lose any rights or claims afforded under their original policies pursuant to subchapter 9 of chapter 101 or chapter 112 of this title; or
(6) the transfer of liabilities from one insurer to another under a single group policy upon the written request of the group policyholder. (Added 1993, No. 235 (Adj. Sess.), § 7.)
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
