(a) Policy forms and endorsements offered by insurers
for voluntary market and assumption reinsurance programs under §5.4306
or §5.4307 of this title must be approved by the department.
This section does not apply to the remaining term of a novated policy.
(b) Insurance Code Chapter 2210, Subchapter L-1, does
not apply to policy forms and endorsements offered by insurers under
this section.
(c) Except as provided in Insurance Code Chapter 2210,
the terms of the policy forms and endorsements offered by insurers
for voluntary market and assumption reinsurance programs must comply
with the Insurance Code, including Chapter 551, Subchapters A, C,
and D.
(d) Insurers must submit the policy forms and endorsements
offered by insurers for voluntary market and assumption reinsurance
programs under Insurance Code Chapter 2301 and Chapter 5, Subchapter
M, of this title.
(e) Rates for policy forms and endorsements offered
by insurers for voluntary market and assumption reinsurance programs
are subject to the requirements in Insurance Code Chapter 2251. In
addition to information required under Chapter 5, Subchapter M of
this title, when submitting rates for policy forms and endorsements
offered by insurers for assumption reinsurance programs under Insurance
Code §2210.703 and §5.4307 of this title, insurers must
provide an exhibit that demonstrates that each rate filed by the insurer
is no more than 115 percent of the corresponding rate charged by the
association.
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