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(a) This chapter applies to an insurer or producer transacting creditor-placed insurance as defined in this chapter.
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(b) All creditor-placed insurance written in connection with credit transactions for personal, family, or household purposes is subject to the provisions of this chapter, except:
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(1) Transactions involving extensions of credit primarily for business or commercial purposes;
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(2) Insurance on collateralized real property;
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(3) Insurance offered by the creditor and elected by the debtor at the debtor’s option;
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(4) Insurance for which no specific charge is made to the debtor or the debtor’s account; or
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(5) Blanket insurance, whether paid for by the debtor or the creditor.
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(c) The Insurance Commissioner shall have authority to bring an administrative or judicial proceeding to enforce this chapter. No provisions of this chapter are intended to establish or extinguish a private right of action for a violation of any provision of this chapter.
