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Texas Appointment of Agent for Service of Process for a Captive...

Texas Appointment of Agent for Service of Process for a Captive Insurance Company

Name: Texas Appointment of Agent for Service of Process for a Captive Insurance Company
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.72 (373 reviews)

Category:

Texas Workers Compensation - Self Insurance Regulation

State:

Texas

Control #:

TX-FIN184

Format:

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Appointment of Agent for Service of Process for a Captive Insurance Company Texas Appointment of Agent for Service of Process for a Captive Insurance Company is a document that is required by the Texas Department of Insurance for a Captive Insurance Company to appoint an Agent for Service of Process. The Appointment of Agent for Service of Process for a Captive Insurance Company allows the Texas Department of Insurance to serve any legal notices, demands, or other documents to the Captive Insurance Company. The Appointment of Agent for Service of Process for a Captive Insurance Company must be filled out and signed by an authorized representative of the Captive Insurance Company. The types of Texas Appointment of Agent for Service of Process for a Captive Insurance Company include: 1. Domestic Captive Insurance Company Appointment of Agent for Service of Process: This type of Appointment of Agent for Service of Process is for a Captive Insurance Company that is organized in the State of Texas. 2. Foreign Captive Insurance Company Appointment of Agent for Service of Process: This type of Appointment of Agent for Service of Process is for a Captive Insurance Company that is organized outside the State of Texas.

Texas Appointment of Agent for Service of Process for a Captive Insurance Company is a document that is required by the Texas Department of Insurance for a Captive Insurance Company to appoint an Agent for Service of Process. The Appointment of Agent for Service of Process for a Captive Insurance Company allows the Texas Department of Insurance to serve any legal notices, demands, or other documents to the Captive Insurance Company. The Appointment of Agent for Service of Process for a Captive Insurance Company must be filled out and signed by an authorized representative of the Captive Insurance Company. The types of Texas Appointment of Agent for Service of Process for a Captive Insurance Company include: 1. Domestic Captive Insurance Company Appointment of Agent for Service of Process: This type of Appointment of Agent for Service of Process is for a Captive Insurance Company that is organized in the State of Texas. 2. Foreign Captive Insurance Company Appointment of Agent for Service of Process: This type of Appointment of Agent for Service of Process is for a Captive Insurance Company that is organized outside the State of Texas.

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Issue: In its simplest form, a captive is a wholly owned subsidiary created to provide insurance to its non-insurance parent company (or companies). Captives are essentially a form of self-insurance whereby the insurer is owned wholly by the insured.

While Texas typically gives you four years to bring a suit for breach of contract, many Texas property policies attempt to limit policyholders from bringing claims against them to two years and one day after the property damage or physical loss happens.

Under Texas law, claims for breach of the duty of good faith and fair dealing and violations of the Texas Insurance Code must be brought within two years after the cause of action accrues. The default limitations period for breach of an insurance contract is four years from the day the cause of action accrues.

How Long Does an Insurance Company Have to Settle a Claim? Texas requires insurance companies to make their final settlements by the end of 5 business days after the approval of the claim.

Captives are required to pay taxes on direct written premiums. That tax rate is 0.5 percent, with a minimum annual tax of $7,500 with a $200,000 cap. No taxes are imposed on reinsurance premiums. Also, Texas lawmakers have amended the captive statute several times since its passage.

Our captive programs are structured as: Single Parent Captives which are formed as a subsidiary of a ?parent? organization to ensure all are part of the organization's risk. Group and Association Captives owned by member policyholders. Agency Captives owned by agents or brokers.

Captives are required to pay taxes on direct written premiums. That tax rate is 0.5 percent, with a minimum annual tax of $7,500 with a $200,000 cap. No taxes are imposed on reinsurance premiums.

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(name of appointee). (address). (B) The written appointment of an agent shall be in the form the superintendent of insurance prescribes, which may include a consent to service of process.INSURANCE ENTITY DOING BUSINESS IN DELAWARE. The Commissioner of the Delaware Department of Insurance is appointed as agent for various. Indicate the name of the resident registered agent for service of process, and complete and submit form FIS 2218 in the application package to appropriately. Will Agent Services Division provide a list of renewed appointments to companies after the renewal invoice is paid? This document is only a guide intended to assist interested parties in the formation and ongoing operation of a Captive insurance company in New Jersey. New York law requires that a captive insurance company appoint the Superintendent of. Explore why independent agencies partner with Nationwide and how your unique business needs are our priority. Get appointed with a carrier you can trust.

Texas Appointment of Agent for Service of Process for a Captive Insurance Company

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