(a) Not later than the 60th day after the date an insurer files a form under Section 1153.051, the commissioner shall disapprove the form if:
(1) the benefits provided are not reasonable in relation to the premium charge; or
(2) the form contains a provision that:
(A) is unjust, unfair, inequitable, misleading, or deceptive;
(B) encourages misrepresentation of the coverage; or
(C) is contrary to this code or a rule adopted under this code.
(b) The commissioner shall specify in the notice of disapproval of a form the reason for the disapproval and state that, if the insurer delivers to the commissioner a written request for a hearing on the disapproval of the form, the hearing will be granted not later than the 20th day after the date of the request.