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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) An insurer that issues a professional liability insurance policy for a physician or health care provider must provide to the insured written notice of at least 90 days if the insurer intends to:
(1) increase the premiums on the policy; or
(2) cancel or not renew the policy for a reason other than for nonpayment of premiums or because the insured is no longer licensed.
(b) If the insurer intends to increase the premiums, the insurer shall state in the notice the amount of the increase.
(c) If the insurer intends to cancel or not renew the policy, the insurer shall state in the notice the reason for cancellation or nonrenewal.
(d) An insurer may provide notice of cancellation under this section only within the first 90 days from the effective date of the policy.
Cite this article: FindLaw.com - Texas Insurance Code - INS § 1901.253. Notice of Premium Increase, Cancellation, or Nonrenewal - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-1901-253/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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