Board of Insurance Commissioners of Texas v. Guardian Life Insurance Company of Texas

Summary

The Texas Supreme Court affirmed the trial court's injunction restraining the Board of Insurance Commissioners from enforcing an order that required extra hazard reserves on life‑insurance policies issued to military personnel without a war clause. The Court held that the Board lacked statutory authority to impose such reserves because the governing statute requires both an extra hazardous risk and an extra premium to be charged before extra reserves may be mandated.