Texas Insurance Code ch. 462 -- Texas Property and Casualty Insurance Guaranty Association, complete

What this document is

Texas Insurance Code ch. 462 -- Texas Property and Casualty Insurance Guaranty Association, complete (Secs. 462.001-462.351) is a state statute published by Texas Legislative Council (statutes.capitol.texas.gov; document host tcss.legis.texas.gov). It is one of the Texas documents that insurance license exam questions are written from, including texas property & casualty, texas personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Tex. Ins. Code § 462.201(5) (Covered Claims in General)

  “(5) the claim: (A) is made by a liability claimant or insured who is a resident of this state at the time of the insured event; or (B) is a first-party claim for damage to property that is permanently located in this state.”

• Tex. Ins. Code § 462.252(a) (Reduction in Amount of Covered Claim for Other Policy)

  “Except as provided by Subsection (b), an amount payable as a covered claim under this chapter is reduced by the full applicable limits of another insurance policy described by Section 462.251, and the association shall receive a full credit in the amount of the full applicable limits of the other policy.”

• Tex. Ins. Code § 462.007 (Applicability in General; Exceptions)

  “Sec. 462.007. APPLICABILITY IN GENERAL; EXCEPTIONS. (a) Except as provided by Subsection (b), this chapter applies to each kind of direct insurance. (b) Except as provided by Subchapter F, this chapter does not apply to: (1) life, annuity, health, or disability insurance; (2) mortgage guaranty,...”

• Tex. Ins. Code s. 462.213 (Amount of Individual Covered Claim; Limit)

  “Sec. 462.213. AMOUNT OF INDIVIDUAL COVERED CLAIM; LIMIT. (a) Except as provided by Subsection (b) and Section 462.252, an individual covered claim may not exceed $300,000. (b) The association shall pay the full amount of a covered claim arising out of a workers' compensation claim made under a...”

• Tex. Ins. Code § 462.210 (Claims Not Covered: Certain Damages)

  “Sec. 462.210. CLAIMS NOT COVERED: CERTAIN DAMAGES. A claim against the insured, insurer, guaranty association, receiver, special deputy receiver, or commissioner for recovery of punitive, exemplary, extracontractual, or bad-faith damages awarded in a court judgment against an insured or insurer is not a covered claim.”

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