1114.055 – DUTIES OF INSURERS REGARDING DIRECT RESPONSE
Texas Insurance Code § 1114.055
Summary
This law mandates that insurers must obtain a statement from applicants regarding any intention to replace or change existing insurance policies when responding to direct solicitations. This requirement helps ensure transparency and informed decision-making for consumers considering new insurance contracts.
Insurers must ask about replacing existing policies during direct solicitations.
The statement can be part of the application process.
Aims to promote transparency in insurance applications.
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In simple terms: Learn about Texas's DUTIES OF INSURERS REGARDING DIRECT RESPONSE law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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