| (a) Misrepresentation of insurance policies, unfair
competition, and unfair practices by insurers, agents, and other connected
persons are prohibited by Insurance Code Chapter 541 and Insurance
Code §543.001 or by other provisions of the Insurance Code and
this chapter. No person may engage in this state in any trade practice
that is a misrepresentation of an insurance policy, that is an unfair
method of competition, or that is an unfair or deceptive act or practice
as defined by the provisions of the Insurance Code or as defined by
these sections and other rules and regulations authorized by the Insurance
Code.
(b) Irrespective of the fact that the improper trade
practice is not defined in any other section of these rules and regulations,
no person may engage in this state in any trade practice which is
determined pursuant by law to be an unfair method of competition or
an unfair or deceptive act or practice in the business of insurance.
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