Texas Insurance Code

§ 541.051 — MISREPRESENTATION REGARDING POLICY OR INSURER

IN § 541.051Title 5. PROTECTION OF CONSUMER INTERESTS · Part C. DECEPTIVE, UNFAIR, AND PROHIBITED PRACTICES · Ch. 541. UNFAIR METHODS OF COMPETITION AND UNFAIR OR DECEPTIVE ACTS OR PRACTICES · Art. B. UNFAIR METHODS OF COMPETITION AND UNFAIR OR DECEPTIVE ACTS OR PRACTICES DEFINED

Statute text

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It is an unfair method of competition or an unfair or deceptive act or practice in the business of insurance to:

(1)make, issue, or circulate or cause to be made, issued, or circulated an estimate, illustration, circular, or statement misrepresenting with respect to a policy issued or to be issued:

(A)the terms of the policy;

(B)the benefits or advantages promised by the policy; or

(C)the dividends or share of surplus to be received on the policy;

(2)make a false or misleading statement regarding the dividends or share of surplus previously paid on a similar policy;

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Legislative history

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.