Texas Insurance Code

§ 541.061 — MISREPRESENTATION OF INSURANCE POLICY

IN § 541.061Title 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 misrepresent an insurance policy by:

(1)making an untrue statement of material fact;

(2)failing to state a material fact necessary to make other statements made not misleading, considering the circumstances under which the statements were made;

(3)making a statement in a manner that would mislead a reasonably prudent person to a false conclusion of a material fact;

(4)making a material misstatement of law; or

(5)failing to disclose a matter required by law to be disclosed, including failing to make a disclosure in accordance with another provision of this code.

Legislative history

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