™Your Policy Risk Impact Agent
49 chapters · 915 sections in this title.
22 V.I.C. § 231 Purpose
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The purpose of this chapter is to provide a mechanism for the payment of covered claims under certain insurance policies, to avoid excessive delay in payment and to avoid financial loss to claimants or policyholders because of the insolvency of an insurer, to assist in the detect…
22 V.I.C. § 232 Scope
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This chapter shall apply to all kinds of direct insurance, except title, surety, credit, mortgage guaranty and ocean marine insurance.
22 V.I.C. § 233 Construction
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This chapter shall be liberally construed to effect the purpose propounded in section 231 of this title which shall constitute an aid and guide to interpretation.
22 V.I.C. § 234 Definitions
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(a) As used in this chapter, unless the context clearly indicates otherwise:(a) “Association” means the Virgin Islands Insurance Guaranty Association created in section 235 of this title.(b) “Commissioner” means the Commissioner of Insurance.(c) “Covered claim” means an unpaid cl…
22 V.I.C. § 235 Creation of Association
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There is created a nonprofit unincorporated legal entity to be known as the Virgin Islands Insurance Guaranty Association. All insurers defined as member insurers by subsection (e) of section 234 of this title shall be and remain members of the Association as a condition of their…
