CHAPTER 706. IDENTITY THEFT INSURANCE - Texas Statutes

INSURANCE CODE

TITLE 5. PROTECTION OF CONSUMER INTERESTS

SUBTITLE F. INSURANCE FRAUD AND IDENTITY THEFT

CHAPTER 706. IDENTITY THEFT INSURANCE

Sec. 706.001. DEFINITIONS. (a) The definitions adopted under

Sections 2251.002 and 2301.002 and the terms described by

Sections 2251.003 and 2301.003 apply to this chapter.

(b) In this chapter, "identity theft" means a criminal offense

described by Section 32.51, Penal Code, or a substantially

similar federal law or law in another state.

Added by Acts 2005, 79th Leg., Ch.

102, Sec. 3, eff. September 1, 2005.

Amended by:

Acts 2007, 80th Leg., R.S., Ch.

730, Sec. 2D.017, eff. April 1, 2009.

Sec. 706.002. COVERAGE AUTHORIZED. (a) An insurer authorized

to write property and casualty insurance in this state may offer

and issue insurance coverage for a loss suffered by a

policyholder as a result of the policyholders' being a victim of

identity theft or attempted identity theft.

(b) Coverage authorized by Subsection (a) may be:

(1) offered as a separate insurance policy or as a rider or

endorsement to:

(A) a residential and commercial property insurance policy; or

(B) a personal or commercial casualty insurance policy; and

(2) underwritten and issued as an individual or group insurance

policy.

Added by Acts 2005, 79th Leg., Ch.

102, Sec. 3, eff. September 1, 2005.

Sec. 706.003. ELIGIBLE POLICYHOLDERS. (a) An insurer may issue

coverage authorized under Section 706.002 to:

(1) an individual; or

(2) a group, business, employer, association, trustee, or other

entity for the benefit of its members, customers, employees,

members, or beneficiaries.

(b) An entity described by Subsection (a)(2) may be a group

that:

(1) is formed solely for the purpose of obtaining insurance

coverage under this chapter; or

(2) has already been formed for a purpose other than for

obtaining insurance coverage under this chapter and that is

described by Subsection (a)(2).

Added by Acts 2005, 79th Leg., Ch.

102, Sec. 3, eff. September 1, 2005.

Sec. 706.004. RATES AND FORMS. Notwithstanding any other law,

rates and forms for insurance coverage issued under this chapter

are governed by:

(1) Subchapters A-E, Chapter 2251;

(2) Subchapter A, Chapter 2301; and

(3) Article 5.13-2.

Added by Acts 2005, 79th Leg., Ch.

102, Sec. 3, eff. September 1, 2005.

Amended by:

Acts 2007, 80th Leg., R.S., Ch.

730, Sec. 2D.018, eff. April 1, 2009.

Sec. 706.005. RULES. The commissioner may adopt rules as

necessary to implement this chapter.

Added by Acts 2005, 79th Leg., Ch.

102, Sec. 3, eff. September 1, 2005.