Texas Insurance Code 4051.357 – Insurer Approval for New Business or Increase in Liability
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Terms Used In Texas Insurance Code 4051.357
- Contract: A legal written agreement that becomes binding when signed.
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
An agent who receives notice of termination or suspension of the agent’s contract from an insurer may not write, without the written approval of the insurer:
(1) any new business; or
(2) any increase in liability on a renewal policy or an existing policy.