CHAPTER 1807. APPLICABILITY TO MARINE INSURANCE - Texas Statutes

INSURANCE CODE

TITLE 10. PROPERTY AND CASUALTY INSURANCE

SUBTITLE A. GENERAL PROVISIONS

CHAPTER 1807. APPLICABILITY TO MARINE INSURANCE

Sec. 1807.001. DEFINITIONS. In this chapter:

(1) "Insurable property and interests" includes:

(A) goods, freights, and cargoes;

(B) merchandise;

(C) effects;

(D) disbursements;

(E) profits;

(F) money, bullion, and precious stones;

(G) securities;

(H) choses in action;

(I) evidences of debt;

(J) valuable papers; and

(K) bottomry and respondentia interests.

(2) "Marine insurance" means:

(A) insurance and reinsurance that covers:

(i) loss or damage to:

(a) a hull, vessel, or craft of any kind, an aid to navigation,

a dry dock, or a marine railway, whether complete, under

construction, or awaiting construction; or

(b) insurable property and interests in respect to, appertaining

to, or in connection with a risk or peril of navigation, transit,

or transportation:

(1) on or under a sea, lake, or river or other water, in the

air, or on land in connection with or incident to export, import,

or waterborne risks;

(2) while being assembled, packed, crated, baled, compressed, or

similarly prepared for shipment;

(3) while awaiting shipment; or

(4) during any delay, storage, or transshipment or reshipment

incident to the initial shipment;

(ii) a marine builder or repairer risk;

(iii) a marine protection or indemnity risk; or

(iv) a war risk regarding any insurable property or interest

described by this section; and

(B) insurance defined as marine insurance by another statute,

lawful custom, or rule adopted by the commissioner.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.

Sec. 1807.002. INAPPLICABILITY OF CERTAIN LAWS TO MARINE

INSURANCE; EXCEPTION. (a) The following provisions do not apply

to marine insurance:

(1) Sections 36.002, 37.051, 403.002, 492.051, and 501.159;

(2) Subchapter H, Chapter 544;

(3) Chapters 5, 252, 253, 493, 494, 1804, 1805, 1806, and 2171;

and

(4) Subtitles B, C, D, E, F, H, and I.

(b) Subsection (a) does not apply to:

(1) a farm mutual insurance company operating under Chapter 911;

(2) a mutual insurance company engaged in business under Chapter

12, Title 78, Revised Statutes, before that chapter's repeal by

Section 18, Chapter 40, Acts of the 41st Legislature, 1st Called

Session, 1929, as amended by Section 1, Chapter 60, General Laws,

Acts of the 41st Legislature, 2nd Called Session, 1929, that

retains the rights and privileges under the repealed law to the

extent provided by those sections; or

(3) a county mutual insurance company operating under Chapter

912.

Added by Acts 2005, 79th Leg., Ch.

727, Sec. 2, eff. April 1, 2007.