Tex. Insurance Code § 422.003
DEFINITIONS
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 422.003, DEFINITIONS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/677404
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Full text
In this chapter:
(1) "Asset" means any property in which an insurer owns a legal or equitable interest that is reported as an asset in the domestic insurer's statutory financial statements most recently filed with the department.
(2) "Claimant" means an owner, beneficiary, assignee, certificate holder, or third-party beneficiary of an insurance benefit or right arising from the coverage of an insurance policy to which this chapter applies.
(3) "Reserve assets" means the assets of an insurer that are authorized investments for policy reserves under this code.
(4) "Policy reserve liabilities" means the liabilities that an insurer is required under this code to establish for all of the insurer's outstanding insurance policies.