Texas Statutes and Rules Common to Life and Health Insurance
Beyond the unfair practice provisions, what additional Texas exposure does an insurer face for unreasonably delaying payment of a valid life claim?
Answer and explanation
Answer: A. Chapter 542's prompt payment provisions add statutory damages and attorney's fees when an insurer fails to meet the deadlines for acknowledging, investigating, and paying a claim.Source: Texas Insurance Code — Tex. Ins. Code ch. 542, subch. B, prompt payment of claims and damages
More texas statutes and rules common to life and health insurance questions
- A Texas life agent has not completed required CE and has no applicable exemption or extension. What must happen before TDI will renew the license?
- A Texas resident life agent moves to another state. According to TDI’s FIN533 instructions, what is required before Texas can change the license to nonresident status?
- After a hearing, the Commissioner finds that an insurer is engaging in an unfair insurance practice. What is the core function of a cease-and-desist order?
- After a TDI hearing on an alleged unfair practice, what should support the Commissioner's final administrative order?
- After notice and hearing, TDI finds a regulated person violated the Insurance Code. Which result is an administrative penalty-type response?
- An agent circulates a flyer falsely stating that a competing insurer is close to insolvency. Which Texas unfair practice is that?
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