28 Tex. Admin. Code § 5.609 - Delegation and New Insurers
(a) An insurer may
delegate by written contract the functions that the insurer is required to
perform under the program to one or more department licensed managing general
agents (MGA), and to the extent an insurer has contractually delegated any
requirement of §§5.601 - 5.611 to an MGA, the MGA shall be deemed an insurer
for the purposes of §§5.601 - 5.611. A copy of the delegation agreement must be
submitted to the department's Financial Responsibility Verification Program
Coordinator and the vendor. Under such delegation, both the MGA and the insurer
shall be jointly and severally responsible for full compliance with this
program and jointly and severally subject to disciplinary actions from the
department for failure to meet program requirements.
(b) An insurer or delegated MGA that
commences writing personal automobile insurance in the Texas market more than
10 business days after the effective date of §
5.606 of this subchapter (relating
to Requirements for Insurers Using the Web Services Program), but before June
1, 2007, shall comply with the database program as detailed in §
5.604 and §
5.605 of this subchapter (relating
to Reporting Requirements for Insurers Using the Database Program and Data
Error Correction Requirements for Insurers Using the Database Program) and must
begin reporting data on or before June 30, 2007.
(c) An insurer that commences writing
personal automobile insurance in the Texas market on or after June 1, 2007
shall have 30 calendar days to comply with the database program requirements in
§
5.604 and §
5.605 of this subchapter and begin
reporting data.
(d) An MGA that has
been contracted to act on behalf of an insurer under subsection (a) of this
section has the same reporting options as an insurer. An MGA that contracts to
act on behalf of an insurer under subsection (a) of this section more than 10
business days after the effective date of §
5.606 of this subchapter must
comply with the database program requirements in §
5.604 and §
5.605 of this subchapter and begin
reporting data as specified for an insurer in subsections (b) and (c) of this
section.
Notes
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