28 Tex. Admin. Code § 5.4187 - Offsets
(a) An insurer may credit a contingent
surcharge amount on its next remission to the association if the insurer has
already remitted the amount to the association for:
(1) the portion of the surcharge the insurer
was not able to collect from the policyholder, if the policy was canceled or
expired;
(2) the portion of the
surcharge remitted to the association, or deposited directly in the premium
surcharge trust fund, that was later refunded to the policyholder as a result
of a rescission, midterm cancellation, or midterm policy change, as described
in § 5.4184 of this division (relating to Application of Premium Surcharges);
or
(3) the portion of a surcharge
remitted to the association, or deposited directly in the premium surcharge
trust fund or funds, in excess of a deposit premium as described in § 5.4184 of
this division.
(b) An
agent may not offset payment of a contingent surcharge or an association
surcharge to the insurer for any reason; however, a surplus lines agent allowed
by an affiliated surplus lines insurer to remit contingent surcharges to the
association on its behalf under § 5.4186(a) of this division (relating to
Remittance of Contingent Surcharges), may offset as provided in this
section.
Notes
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