(a) This chapter applies to an insurer or agent transacting creditor-placed insurance as defined in this chapter.
(b) All creditor-placed insurance written in connection with credit transactions for personal, family or household purposes is subject to this chapter, except:
(1) Transactions involving extensions of credit primarily for business or commercial purposes;
(2) Insurance on collateralized real property;
(3) Insurance offered by the creditor and elected by the debtor at the debtor's option;
(4) Insurance for which no specific charge is made to the debtor or the debtor's account; or
(5) Blanket insurance, whether paid for by the debtor or the creditor.
(c) 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.
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