All companies operating under this chapter and not maintaining a nine hundred fifty thousand dollar ($950,000) guaranty capital or more and issuing policies providing for a contingent premium equal to and in addition to the regular premium and the contingent liabilities of the policyholders are included as contingent assets of the company, and the inclusion of these contingent assets on a statement of financial condition of the company at any date is required to show admitted assets equal to or greater than the outstanding liabilities, including provision for unearned premiums, the company shall cease to write any contracts of insurance except policies providing insurance against damage by fire, lightning, hail, extended coverage and tornadoes.