Definition: Insurance Exchange Texas, commonly known as ICE (Texas Insurance Company), is an insurance exchange for property and casualty insurance in Texas. It was established in 1908 to manage and facilitate business between the insurance companies and other entities such as government bodies or individuals, as well as providing a platform for people who are not insured but need financial protection. ICE provides services to both commercial and individual customers, offering a wide range of products including auto insurance, personal insurance, workers' compensation insurance, home insurance, and more. The exchange also handles claims processing, offers underwriting advice, and helps individuals to understand the insuring process. ICE is regulated by the Texas Insurance Commissioner's Office (TICO) and must comply with various rules such as providing accurate information to customers, maintaining fair and competitive rates, and offering a prompt response to claims.
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