Texas Insurance Code 1201.002 – Purpose
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Insurance Code 1201.002
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
The purpose of this chapter is to:
(1) provide for reasonable standardization, readability, and simplification of terms and coverages in individual accident and health insurance policies;
(2) promote public understanding of coverages;
(3) eliminate provisions in individual accident and health insurance policies that may be unjust, unfair, misleading, or unreasonably confusing in connection with:
(A) the purchase of coverage; or
(B) the settlement of claims; and
(4) provide for full and fair disclosure in sales of accident and health coverage.