™Your Policy Risk Impact Agent
49 chapters · 915 sections in this title.
22 V.I.C. § 485 Purpose and scope
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The Legislature of the Virgin Islands finds and declares that, in accordance with the goals and objectives of the National Association of Insurance Commissioners (“NAIC”) for insurance companies to achieve greater financial solvency, there exists the need for insurance companies …
22 V.I.C. § 486 Applicability
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(a) This chapter shall apply to:(1) All insurers domiciled in the Territory, unless exempted pursuant to section 491;(2) All foreign insurers as defined in section 201(2) of this title that are not subject to the requirements and standards as adopted by statute in their jurisdict…
22 V.I.C. § 487 Definitions
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(a) “Commissioner” means the Commissioner of Insurance of the Virgin Islands. (b) “Insurer” has the same meaning as set forth in section 4 of this title, except that it shall not include agencies, authorities or instrumentalities of the United States, its possessions and territor…
22 V.I.C. § 488 Risk management framework
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An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing and reporting on its material and relevant risks. This requirement may be satisfied if the insurance group of which the insurer is a member maintains a ri…
