™Your Policy Risk Impact Agent
49 chapters · 915 sections in this title.
22 V.I.C. § 773 Independent financial examination of each managing general agent
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(a) The insurer shall have on file, in a form acceptable to the Commissioner, an independent financial examination of each managing general agent with which it has done business. (b) If a managing general agent establishes loss reserves, the insurer shall obtain annually the opin…
22 V.I.C. § 774 Acts of managing general agent deemed Acts of Insurer of examinations
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(a) The acts of a managing general agent are the acts of the insurer on whose behalf it is acting. (b) A managing general agent may be examined pursuant to chapter 5 of this title, as if it were the insurer. The managing general agent shall pay the expenses incurred in the conduc…
22 V.I.C. § 775 Assumed names and address
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(a) An insurance producer doing business under any name other than the producer’s legal name must seek approval from the Commissioner prior to using the assumed name. (b) Any person violating this section is liable for a fine not to exceed $500.
22 V.I.C. § 776 License refusal, nonrenewal, suspension or revocation
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(a) The Commissioner may suspend, revoke or refuse to issue or renew an insurance producer’s license or may levy a civil penalty in accordance with this chapter or any combination of actions, for any one or more of the following causes:(1) providing incorrect, misleading, incompl…
