Texas Statutes and Rules Common to Life and Health Insurance
An agent circulates false statements calculated to injure a competing insurer’s financial reputation and induce a customer to surrender a policy. Which Texas provisions apply?
Answer and explanation
Answer: B. Section 541.053 addresses false or maliciously critical financial statements calculated to injure an insurer. Section 541.051(5) prohibits misrepresentations intended or tending to induce lapse, forfeiture, or surrender of an existing policy. Section 541.058 is not the appropriate locator.Source: Texas Department of Insurance — §§541.053(a), 541.051(5)
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