Texas Insurance Code 885.315 – Damages for Failure to Timely Pay Benefits
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Terms Used In Texas Insurance Code 885.315
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
A fraternal benefit society that is liable for a loss and that does not pay benefits before the 61st day after the date of the demand for payment is liable to the holder of the benefit certificate, in addition to the amount of the loss, for damages of 12 percent of the amount of the loss and reasonable attorney’s fees for the prosecution and collection of the loss.