INSURANCE CODE
CHAPTER 553. ENFORCEMENT OF INSURANCE POLICIES REGARDING HOLOCAUST
VICTIMS
§ 553.001. DEFINITIONS. In this chapter:
(1) "Holocaust victim" means a person who was killed
or injured, or who lost financial assets or other property, as the
result of discriminatory laws, policies, or actions directed
against any discrete group of which the person was a member, during
the period of 1920 to 1945, inclusive, in Germany, areas occupied by
Germany, or countries allied with Germany.
(2) "Insurance policy" includes:
(A) a life insurance policy, an annuity, a
property insurance policy, a casualty insurance policy, and a
liability insurance policy; and
(B) reinsurance on a risk covered under a policy
described by Paragraph (A).
(3) "Insurer" means an insurance company or other
entity engaged in the business of insurance or reinsurance in this
state. The term includes:
(A) a capital stock company, a mutual company, or
a Lloyd's plan; and
(B) any parent, subsidiary, or affiliated
company, at least 50 percent of the stock of which is in common
ownership with an insurer engaged in the business of insurance in
this state.
Added by Acts 2003, 78th Leg., ch. 1274, § 2, eff. April 1, 2005.
§ 553.002. SUSPENSION OF LIMITATIONS
PERIOD. (a) Notwithstanding any other law, a Holocaust victim,
or the heir, assignee, beneficiary, or successor of a Holocaust
victim, who resides in this state and has a claim arising out of an
insurance policy purchased or in effect in Europe before 1946 that
was delivered, issued for delivery, or renewed by an insurer may
bring an action in this state against an insurer to recover on that
claim.
(b) An action brought under this section before December 31,
2012, may not be dismissed for failure to comply with any applicable
limitations period.
Added by Acts 2003, 78th Leg., ch. 1274, § 2, eff. April 1, 2005.
§ 553.003. VIOLATION BY INSURER. An insurer violates
this chapter if the insurer fails to comply with a claim brought
under this chapter by:
(1) denying the claim on the grounds that the claim is
not timely; or
(2) asserting a statute of limitations defense in an
action brought under Section 553.002.
Added by Acts 2003, 78th Leg., ch. 1274, § 2, eff. April 1, 2005.
§ 553.004. EXAMINATION; ENFORCEMENT. (a) If the
commissioner considers it necessary, the commissioner may initiate
an examination of an insurer under Article 1.15.
(b) If the commissioner believes that an insurer is
violating or has violated this chapter, the commissioner may:
(1) impose a sanction under Chapter 82;
(2) issue a cease and desist order under Chapter 83;
(3) assess an administrative penalty under Chapter 84;
or
(4) refer the matter to the attorney general for
appropriate enforcement.
Added by Acts 2003, 78th Leg., ch. 1274, § 2, eff. April 1, 2005.
