(1)    Except as otherwise provided in this chapter and subject to the provisions on additional charges (s. 422.202), and maximum charges (s. 422.201) a creditor may agree to provide insurance, and may contract for and receive a charge for insurance separate from and in addition to other charges. A creditor need not make a separate charge for insurance provided or required by the creditor.

   (2)   This chapter does not authorize the issuance of any insurance prohibited under any statute, or rule thereunder, governing the business of insurance.