Texas Insurance Code 4055.014 – Disclosures Required Before Issuance of Insurance
Terms Used In Texas Insurance Code 4055.014
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Rule: includes regulation. See Texas Government Code 311.005
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
Except as provided by Section 4055.105, insurance coverage may not be issued under this chapter unless:
(1) at each location at which sales of the coverage occur, brochures or other written materials are prominently displayed and readily available to a prospective consumer that:
(A) summarize, clearly and correctly, the material terms of the coverage offered to consumers, including the identity of the insurer;
(B) disclose that the coverage offered by the specialty license holder may duplicate coverage already provided by a consumer’s personal auto insurance policy, homeowner’s insurance policy, personal liability insurance policy, or another source of coverage;
(C) state that, except as specifically provided by another law of this state or the United States, the purchase by the consumer of the kind of insurance offered is not required to complete the associated consumer transaction;
(D) describe the process for filing a claim for benefits; and
(E) contain any additional information required by the commissioner by rule regarding the price, benefits, exclusions, conditions, or other limitations of the coverage; and
(2) evidence of coverage is provided to each consumer who purchases the coverage.