This chapter applies to an insurer or agent transacting creditor-placed insurance as defined in this chapter.
All creditor-placed insurance written in connection with credit transactions for personal, family or household purposes is subject to this chapter, except:
Transactions involving extensions of credit primarily for business or commercial purposes;
Insurance on collateralized real property;
Insurance offered by the creditor and elected by the debtor at the debtor’s option;
Insurance for which no specific charge is made to the debtor or the debtor’s account; or
Blanket insurance, whether paid for by the debtor or the creditor.
Nothing in this chapter shall be construed to create or imply a private cause of action for violation of this chapter, and the commissioner shall have authority to bring administrative or judicial proceedings to enforce this chapter.
