Texas HB4877 amends the Texas Property and Casualty Insurance Guaranty Association provisions, affecting insurance claims and association recovery.

Texas HB4877 amends the Texas Insurance Code to modify the Texas Property and Casualty Insurance Guaranty Association's operations. It redefines "claimant" to include insureds, liability claimants, and workers' compensation claimants. The association can recover costs for defending claims from impaired insurers, except for those exceeding $50 million or involving tax-exempt entities. It also outlines specific insurance types not covered by guaranty association provisions, such as life, health, and disability insurance.

Texas HB4877 amends the Texas Property and Casualty Insurance Guaranty Association provisions, affecting insurance claims and association recovery.

Texas HB4877 amends the Texas Insurance Code to modify the Texas Property and Casualty Insurance Guaranty Association's operations. It redefines "claimant" to include insureds, liability claimants, and workers' compensation claimants. The association can recover costs for defending claims from impaired insurers, except for those exceeding $50 million or involving tax-exempt entities. It also outlines specific insurance types not covered by guaranty association provisions, such as life, health, and disability insurance.