In a report of a material nonrenewal, cancellation, or revision of a ceded reinsurance agreement under Section 402.002, an insurer or health maintenance organization shall disclose:

1. (1) the effective date of the nonrenewal, cancellation, or revision;
2. (2) a description of the transaction that identifies the initiator of the transaction;
3. (3) the purpose of the transaction; and
4. (4) if applicable, the identity of each replacement reinsurer.

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007.