Texas Insurance Code 2053.102 – Treatment of Payments Under Statistical Plan
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Terms Used In Texas Insurance Code 2053.102
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
A statistical plan developed under Section 2053.101 must require the following payments to be reported separately and not to be considered as a loss or expense for purposes of computing a premium rate modifier or surcharge of an insured:
(1) a direct payment made by an insurance company to influence public policy; and
(2) any amount paid by an insurance company:
(A) as damages in an action against the insurance company for malice or bad faith; or
(B) as a fine or penalty.