SECTION 5.9401. Purpose and Scope

(a) The purpose of the Residential Property Insurance Market Assistance Program is to provide a fair, efficient, and economical voluntary mechanism to assist Texas consumers in obtaining residential property insurance in all underserved areas of the state, including rural areas, as designated by the Commissioner of Insurance pursuant to Article 21.49-12 of the Insurance Code.

(b) The purpose of this plan of operation, which is contained in §§5.9401-5.9415 of this title (relating to the Residential Property Insurance Market Assistance Program Plan of Operation), is to specify the procedures and methods of operation of the Residential Property Insurance Market Assistance Program, including:

(1) eligibility requirements;

(2) policy forms and types of coverage;

(3) rates;

(4) application forms and procedures;

(5) role and responsibilities of participating insurers;

(6) role and responsibilities of participating agents and requirements for commissions;

(7) role and responsibilities of the Executive Committee;

(8) role and responsibilities of the Commissioner of Insurance and the Texas Department of Insurance;

(9) procedures for monitoring the operation of the MAP;

(10) criteria and procedures for mandatory participation by insurers;

(11) procedures for amendment of the plan of operation; and

(12) procedures for termination of the MAP.

Source Note: The provisions of this §5.9401 adopted to be effective October 1, 1996, 21 TexReg 8715; amended to be effective August 1, 1998, 23 TexReg 7587; transferred effective April 16, 1999, 24 TexReg 3092.