(a) Except as provided by Subsection (b), this subchapter applies to each contract between an agent and an insurer engaged in the business of property and casualty insurance in this state.
(b) This subchapter does not apply to:
(1) the termination or suspension by an insurer of an agent’s contract because of:
(A) insolvency;
(B) abandonment;
(C) gross and wilful misconduct;
(D) failure to pay the insurer money due to the insurer after receipt of a written demand; or
(E) revocation of the agent’s license by the department; or
(2) the termination or suspension by an insurer of an agent’s contract if the insurance policies and insurance business are owned by the insurer rather than the agent.