TX HB4877

Expands the definition of "claimant" to explicitly include workers' compensation claimants alongside those making first-party claims and liability claims

Excludes guaranteed asset protection (GAP) insurance from coverage under the Texas Property and Casualty Insurance Guaranty Association

Expands eligibility for insurance industry board members to include officers of member insurers or affiliated entities, not just full-time employees

Restructures association accounts from three to four categories by adding a separate administrative account alongside workers' compensation, automobile, and other lines accounts

Authorizes the association to recover claim payments and administrative/defense costs from high-net-worth insureds (over $50 million) who were not initially identified as excluded, while exempting 501(c)(3) nonprofit organizations from such recovery

Extends automatic litigation stays to proceedings asserted directly against the association arising from policies issued by an impaired insurer, with an initial six-month stay period