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Reviewing the Hamel Case: The Importance of "Fully Adversarial" Proceedings
Category: Insurance
The Texas Supreme Court recently issued its decision in Great American Insurance Co. v. Hamel, a closely watched case regarding the ability of insurers to contest liability for a judgment rendered against an insured who enters into a pre-trial agreement with a plaintiff that renders subsequent…
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Texas Adopts Changes to Insurance Holding Company Act
Category: Insurance
With the adoption of SB 1073, Texas has made some significant changes to its Insurance Holding Company Systems law, Chapter 823 of the Insurance Code. The Bill was effective May 22, 2017. The materiality standard for transactions with affiliates has been amended to eliminate the 5% of insurer…
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Update #1 on Insurance and Insurance-Related Bills from the 85th Texas Legislature
Category: Insurance
The 2017 regular session of the Texas Legislature was characterized by clashes on social hot-button issues (sanctuary cities, school vouchers, transgender bathroom privileges) between the very conservative Senate, led by Lt. Governor Dan Patrick, and the slightly more moderate House of…
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Texas Adds New Option for Surplus Lines
Category: Insurance
On June 15, 2017, Governor Greg Abbott signed HB 2492 allowing Texas domestic insurance companies to write surplus lines business in Texas adding to a growing list of states authorizing domestic surplus lines companies. Effective January 1, 2018, Texas property and casualty insurance companies can…
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New Texas Legislation Significantly Expands Industrial Insured Exemption
Category: Insurance
House Bill 1559 creates an expanded exemption for entities qualifying as an “industrial insured”. The bill has been signed by the Governor and is effective September 1, 2017. The bill adds a new definition of “industrial insured” to exempt insureds that qualify from the diligent effort requirement…
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