407.044
(a) A certificate of authority to self-insure is valid for one year after the date of issuance and may be renewed under procedures prescribed by the commissioner. (b) The commissioner may stagger the renewal dates of certificates of authority to self-insure to facilitate the work load of the division. Acts 1993, 73rd Leg., ch. 269, […]
407.046
(a) The commissioner may revoke the certificate of authority to self-insure of a certified self-insurer who fails to comply with requirements or conditions established by this chapter or a rule adopted by the commissioner under this chapter. (b) If the commissioner believes that a ground exists to revoke a certificate of authority to self-insure, the […]
407.047
(a) A certified self-insurer whose certificate of authority to self-insure is revoked is not relieved of the obligation for compensation to an employee for an accidental injury or occupational disease that occurred during the period of self-insurance. (b) The security required under Sections 407.064 and 407.065 shall be maintained with the division or under the […]
407.062
In assessing the financial strength and liquidity of an applicant, the commissioner shall consider: (1) the applicant’s organizational structure and management background; (2) the applicant’s profit and loss history; (3) the applicant’s compensation loss history; (4) the source and reliability of the financial information submitted by the applicant; (5) the number of employees affected by […]
407.063
(a) In addition to meeting the other certification requirements imposed under this chapter, an applicant for an initial certificate of authority to self-insure must present evidence satisfactory to the commissioner of a total unmodified workers’ compensation insurance premium in this state in the calendar year of application of at least $500,000. (b) Instead of the […]
407.064
(a) Each applicant shall provide security for incurred liabilities for compensation through a deposit with the division, in a combination and from institutions approved by the commissioner, of the following security: (1) cash or negotiable securities of the United States or of this state; (2) a surety bond that names the commissioner as payee; or […]
407.065
(a) A security deposit must include within its coverage all amounts covered by terminated surety bonds or terminated excess insurance policies. (b) A surety bond, irrevocable letter of credit, or document indicating issuance of an irrevocable letter of credit must be in a form approved by the commissioner and must be issued by an institution […]
407.066
(a) The commissioner, after notice to the concerned parties and an opportunity for a hearing, shall resolve a dispute concerning the deposit, renewal, termination, release, or return of all or part of the security, liability arising out of the submission or failure to submit security, or the adequacy of the security or reasonableness of the […]
407.067
(a) Each applicant shall obtain excess insurance or reinsurance to cover liability for losses not paid by the self-insurer in an amount not less than the amount required by the commissioner. (b) The commissioner shall require excess insurance or reinsurance in at least the amount of $5 million per occurrence. (c) A certified self-insurer shall […]
407.081
(a) Each certified self-insurer shall file an annual report with the division. The commissioner shall prescribe the form of the report and shall furnish blank forms for the preparation of the report to each certified self-insurer. (b) The report must: (1) include payroll information, in the form prescribed by this chapter and the commissioner; (2) […]