Section 884.503 - Direct Reinsurance of Accident or Health Insurance Policies(a) In the direct reinsurance of a stipulated premium accident or health insurance policy under Section 884.502, the company assuming the policy under the agreement must assume the exact obligations of the policy.(b) If a policy is non-cancellable or guaranteed renewable, the assuming company may include in the assumption certificate a premium redetermination clause instead of the clause required by Section 884.352.Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. 6/1/2003.