28 Tex. Admin. Code § 25.58 - Notice of Intent To Cancel Insurance Because of Default
(a) A notice of intent-to-cancel insurance
because of default, as provided by the power of attorney agreement, shall be
titled "Notice of Intent to Cancel" and shall be sent to the insured with a
cancellation date not earlier than ten days after the mailing date of the
notice of intent to cancel. The insurance premium finance company shall
establish and maintain either a computer printout or a copy of the
intent-to-cancel notice if the policy is subsequently cancelled. Such records
shall provide evidence to an examiner that the notice was mailed. A copy of the
notice of intent-to-cancel insurance because of default shall be sent to the
insurance agent.
(b) If the
insurance policy financed by an insurance premium finance company is written
under the authority of the Texas Medical Liability Insurance Underwriting
Association (Insurance Code, Article 21.49-3), a copy of the notice of
intent-to-cancel and the request for cancellation shall be sent to the Texas
Medical Liability Insurance Underwriting Association.
Notes
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