2005 Texas Insurance Code CHAPTER 706. IDENTITY THEFT INSURANCE


INSURANCE CODE
CHAPTER 706. IDENTITY THEFT INSURANCE
§ 706.001. DEFINITIONS. (a) The definitions adopted under Article 5.13-2 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, § 3, eff. Sept. 1, 2005. § 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, § 3, eff. Sept. 1, 2005. § 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, § 3, eff. Sept. 1, 2005. § 706.004. RATES AND FORMS. Notwithstanding any other law, rates and forms for insurance coverage issued under this chapter are governed by Article 5.13-2. Added by Acts 2005, 79th Leg., ch. 102, § 3, eff. Sept. 1, 2005. § 706.005. RULES. The commissioner may adopt rules as necessary to implement this chapter. Added by Acts 2005, 79th Leg., ch. 102, § 3, eff. Sept. 1, 2005.

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