(a) Except as provided by § 2054.304 and this subchapter, the company may not refuse to insure a risk that tenders:
(1) the necessary premium; and
(2) any applicable accident prevention service fee.
(b) If an applicant would be rejected for workers’ compensation insurance under the company’s underwriting standards, the company may not reject the risk, but shall insure the risk at a higher premium as provided by the company’s requirements. The company may require the risk to meet other conditions considered necessary to protect the company’s interests.