(a) When the department has reason to believe that a person engaged in the business of insurance in this state has engaged or is engaging in this state in an unfair method of competition or unfair or deceptive act or practice defined by Subchapter B and that a proceeding by the department regarding the charges is in the interest of the public, the department shall issue and serve on the person:
(1) a statement of the charges; and
(2) a notice of the hearing on the charges, including the time and place for the hearing.
(b) The department may not hold the hearing before the sixth day after the date the notice is served.