Texas Insurance Code 2203.156 – Term of Policy; Notice of Certain Changes
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(a) A policy issued by the association must be for a term of one year or less, as determined by the association.
(b) Section 1901.253 does not apply to a medical liability insurance policy issued by the association for a term of less than one year.
Terms Used In Texas Insurance Code 2203.156
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) The association shall ensure that appropriate written notice is provided to the insured for a policy described by Subsection (b) if the association 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.