CHAPTER 802. ANNUAL STATEMENT
INSURANCE CODE
TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES
SUBTITLE A. GENERAL PROVISIONS APPLICABLE TO INSURERS AND RELATED
ENTITIES
CHAPTER 802. ANNUAL STATEMENT
SUBCHAPTER A. ANNUAL STATEMENT OF INSURANCE COMPANIES
Sec. 802.001. FORM OF ANNUAL STATEMENT. (a) The commissioner,
as necessary to obtain an accurate indication of the company's
condition and method of transacting business, may change the form
of any annual statement required to be filed by any kind of
insurance company.
(b) The form may require only information that relates to the
business of the insurance company.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,
2003.
Sec. 802.002. ACTUARIAL OPINION REQUIRED. (a) In this section,
"qualified actuary" means:
(1) a member in good standing of the American Academy of
Actuaries; or
(2) a person who has otherwise demonstrated actuarial competence
to the satisfaction of the commissioner or an insurance
regulatory official of another state in which the insurance
company is domiciled.
(b) An insurance company's annual statement must include a
statement of a qualified actuary entitled "Statement of Actuarial
Opinion" that:
(1) is located on or is attached to the first page of the annual
statement; and
(2) provides the opinion of the actuary relating to policy
reserves and other actuarial items for life insurance, accident
and health insurance, and annuities, or loss and loss adjustment
expense reserves for property and casualty risks, as described in
the annual statement instructions of the National Association of
Insurance Commissioners as appropriate for the type of risks
insured.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,
2003.
Sec. 802.003. FILING DATE OF ANNUAL STATEMENT DELIVERED BY
POSTAL SERVICE. Except as otherwise specifically provided, for
an annual statement that is required to be filed in the offices
of the commissioner and that is delivered by the United States
Postal Service to the offices of the commissioner after the date
on which the annual statement is required to be filed, the date
of filing is the date of:
(1) the postal service postmark stamped on the cover in which
the document is mailed; or
(2) any other evidence of mailing authorized by the postal
service reflected on the cover in which the document is mailed.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,
2003. Amended by Acts 2003, 78th Leg., ch. 1276, Sec. 10A.201,
eff. Sept. 1, 2003.
SUBCHAPTER B. FILING WITH NATIONAL ASSOCIATION OF INSURANCE
COMMISSIONERS
Sec. 802.051. APPLICABILITY OF SUBCHAPTER. This subchapter
applies to each company regulated by the commissioner, including:
(1) a stock life, health, or accident insurance company;
(2) a mutual life, health, or accident insurance company;
(3) a stock fire or casualty insurance company;
(4) a mutual fire or casualty insurance company;
(5) a Mexican casualty company;
(6) a Lloyd's plan;
(7) a reciprocal or interinsurance exchange;
(8) a fraternal benefit society;
(9) a title insurance company;
(10) an attorney's title insurance company;
(11) a stipulated premium insurance company;
(12) a nonprofit legal service corporation;
(13) a health maintenance organization;
(14) a statewide mutual assessment company;
(15) a local mutual aid association;
(16) a local mutual burial association;
(17) an association exempt under Section 887.102;
(18) a nonprofit hospital, medical, or dental service
corporation, including a company subject to Chapter 842;
(19) a county mutual insurance company; and
(20) a farm mutual insurance company.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,
2003.
Sec. 802.052. CONCURRENT FILING WITH NATIONAL ASSOCIATION OF
INSURANCE COMMISSIONERS. (a) Each domestic, foreign, or alien
insurance company authorized to engage in the business of
insurance in this state shall file a copy of the company's annual
statement with the National Association of Insurance
Commissioners at the time the company files the statement with
the commissioner.
(b) The statement required by Subsection (a) must:
(1) meet requirements adopted by the commissioner, including:
(A) a change in substance or form;
(B) an additional filing; and
(C) any requirement that the statement be in a computer
compatible format; and
(2) include the signed jurat page and the actuarial opinion, as
required by the jurisdiction in which the insurance company is
domiciled.
(c) The insurance company shall also file with the National
Association of Insurance Commissioners a copy of any amendment or
addition to the annual statement that is subsequently filed with
the commissioner.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,
2003.
Sec. 802.053. EXEMPTION AUTHORITY. The commissioner may exempt
any class of insurance companies from the requirements of this
subchapter if the commissioner believes the information required
under this subchapter will not be useful for regulatory purposes.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,
2003.
Sec. 802.054. COMPLIANCE. The commissioner may consider a
foreign insurance company to be in compliance with the
requirements of Section 802.052 if the company is domiciled in a
state with a law substantially similar to that section.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,
2003.
Sec. 802.055. COSTS PAID BY INSURANCE COMPANY. An insurance
company shall pay all costs of preparing and furnishing to the
National Association of Insurance Commissioners the information
required under Section 802.052, including any related filing
fees.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,
2003. Amended by Acts 2003, 78th Leg., ch. 206, Sec. 17.01, eff.
June 11, 2003; Acts 2003, 78th Leg., ch. 211, Sec. 2.04, eff.
June 16, 2003; Acts 2003, 78th Leg., ch. 863, Sec. 1, eff. June
20, 2003.
Sec. 802.056. STATUS OF REPORTS AND OTHER INFORMATION. A report
or any other information resulting from the collection, review,
analysis, and distribution of information developed from the
filing of annual statement convention blanks and provided to the
department by the National Association of Insurance Commissioners
is considered part of the process of examination of insurance
companies under this code, including Chapters 86 and 401.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1,
2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch.
730, Sec. 2E.001, eff. April 1, 2009.