CHAPTER 553. ENFORCEMENT OF INSURANCE POLICIES REGARDING HOLOCAUST VICTIMS - Texas Statutes

INSURANCE CODE

TITLE 5. PROTECTION OF CONSUMER INTERESTS

SUBTITLE C. DECEPTIVE, UNFAIR, AND PROHIBITED PRACTICES

CHAPTER 553. ENFORCEMENT OF INSURANCE POLICIES REGARDING

HOLOCAUST VICTIMS

Sec. 553.001. DEFINITIONS. In this chapter:

(1) "Holocaust victim" means a person who was killed or injured,

or who lost financial assets or other property, as the result of

discriminatory laws, policies, or actions directed against any

discrete group of which the person was a member, during the

period of 1920 to 1945, inclusive, in Germany, areas occupied by

Germany, or countries allied with Germany.

(2) "Insurance policy" includes:

(A) a life insurance policy, an annuity, a property insurance

policy, a casualty insurance policy, and a liability insurance

policy; and

(B) reinsurance on a risk covered under a policy described by

Paragraph (A).

(3) "Insurer" means an insurance company or other entity engaged

in the business of insurance or reinsurance in this state. The

term includes:

(A) a capital stock company, a mutual company, or a Lloyd's

plan; and

(B) any parent, subsidiary, or affiliated company, at least 50

percent of the stock of which is in common ownership with an

insurer engaged in the business of insurance in this state.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1,

2005.

Sec. 553.002. SUSPENSION OF LIMITATIONS PERIOD. (a)

Notwithstanding any other law, a Holocaust victim, or the heir,

assignee, beneficiary, or successor of a Holocaust victim, who

resides in this state and has a claim arising out of an insurance

policy purchased or in effect in Europe before 1946 that was

delivered, issued for delivery, or renewed by an insurer may

bring an action in this state against an insurer to recover on

that claim.

(b) An action brought under this section before December 31,

2012, may not be dismissed for failure to comply with any

applicable limitations period.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1,

2005.

Sec. 553.003. VIOLATION BY INSURER. An insurer violates this

chapter if the insurer fails to comply with a claim brought under

this chapter by:

(1) denying the claim on the grounds that the claim is not

timely; or

(2) asserting a statute of limitations defense in an action

brought under Section 553.002.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1,

2005.

Sec. 553.004. EXAMINATION; ENFORCEMENT. (a) If the

commissioner considers it necessary, the commissioner may

initiate an examination of an insurer under Sections 401.051,

401.052, and 401.054-401.062.

(b) If the commissioner believes that an insurer is violating or

has violated this chapter, the commissioner may:

(1) impose a sanction under Chapter 82;

(2) issue a cease and desist order under Chapter 83;

(3) assess an administrative penalty under Chapter 84; or

(4) refer the matter to the attorney general for appropriate

enforcement.

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1,

2005.

Amended by:

Acts 2007, 80th Leg., R.S., Ch.

730, Sec. 2D.014, eff. April 1, 2009.