Title 22 — Insurance
49 chapters · 1,014 sections in this title.
22 V.I.C. § 821 Execution of policies
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(a) Every insurance contract shall be executed in the name of and on behalf of the insurer by its officer, employee, or representative duly authorized by the insurer. (b) A facsimile signature of any such executing officer, employee or representative may be used in lieu of an ori…
22 V.I.C. § 822 Binders—Duration
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(a) A “binder” is used to bind insurance temporarily pending the issuance of the policy. Upon the sale of an insurance policy, a binder shall be issued immediately to the insured. No binder shall be valid beyond the issuance of the policy as to which it was given, or beyond 90 da…
22 V.I.C. § 823 —Agent's liability
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(a) The Commissioner may suspend or revoke the license of any agent issuing or purporting to issue any binder as to any insurer named therein as to which he is not then authorized so to bind. (b) In addition to any penalties which may be imposed by the Commissioner, any agent who…
22 V.I.C. § 824 Underwriters' and combination policies
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(a) Two or more authorized insurers may jointly issue, and shall be jointly and severally liable on, an underwriter's policy bearing their names. Any one insurer may issue policies in the name of an underwriter's department and such policies shall plainly show the true name of th…
22 V.I.C. § 825 Delivery of policy
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(a) Subject to the insurer's requirements as to payment of premium, every policy shall be delivered to the insured or to the person entitled thereto within a reasonable period of time after its issuance, but a policy of automobile or homeowners insurance shall be issued not more …
22 V.I.C. § 826 Renewal of policy
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Any insurance policy terminating by its terms at a specified expiration date and not otherwise renewable, may be renewed or extended at the option of the insurer and upon a currently authorized policy form and at the premium rate then required therefor for a specific additional p…
22 V.I.C. § 827 Cancellation by insurer
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(a) Cancellation by the insurer of any policy which by its terms is cancellable at the option of the insurer, or of any binder based on such policy, may be effected as to any interest only upon compliance with the following:(1) written notice of such cancellation must be actually…
22 V.I.C. § 828 Cancellation by insured
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(a) Cancellation by the insured of any policy which by its terms is cancellable at the insured's option or of any binder based on such policy may be effected by written notice thereof to the insurer and surrender of the policy or binder for cancellation prior to or on the effecti…
22 V.I.C. § 829 Cancellation by Commissioner
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The Commissioner may order the immediate cancellation of any policy the procuring or effectuation of which was accomplished through or accompanied by a violation of this title, except in cases where the policy by its terms is not cancellable by the insurer and the insured did not…
22 V.I.C. § 830 Annulment of liability policies
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No insurance contract insuring against loss or damage through legal liability for the bodily injury or death by accident of any individual, or for damage to the property of any person, shall be retroactively annulled by any agreement between the insurer and insured after the occu…
22 V.I.C. § 831 Dividends payable to real party in interest
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(a) Every insurer issuing participating policies shall pay dividends, unused premiums refunds or savings distributed on account of any such policy, only to the real party in interest entitled thereto as shown by the insurer's records, or to any person to whom the right thereto ha…
22 V.I.C. § 832 Breach of warranty prior to loss; effect
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If any breach of a warranty or condition in any insurance contract occurs prior to a loss under the contract, such breach shall not avoid the contract nor avail the insurer to avoid liability, unless the breach exists at the time of loss.
22 V.I.C. § 833 Assignment of policies; life and disability
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Subject to the terms of the policy relating to its assignment, life insurance policies, other than industrial or group life insurance policies, and disability policies providing benefits for accidental death, whether such policies were heretofore or are hereafter issued, and unde…
22 V.I.C. § 833a Assignability of insurance payments
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Whenever, in any health insurance claim form, an insured specifically authorizes payment of benefits directly to any recognized hospital, licensed ambulance provider, physician, dentist, or other person who provided the services in accordance with the provisions of the policy, th…
22 V.I.C. § 834 Payment discharges life and disability insurer
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Whenever the proceeds of, or payments under, a life or disability insurance policy, heretofore or hereafter issued, become payable and the insurer makes payment thereof in accordance with the terms of the policy, or in accordance with any written assignment thereof pursuant to se…
22 V.I.C. § 835 Minor may give life insurance acquittance
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Any minor domiciled in this territory who has attained the age of 18 years shall be deemed competent to receive and to give full acquittance and discharge for periodical payments, in aggregate amount not exceeding $2,000 in any one year, made by a life insurer as benefits payable…
22 V.I.C. § 836 Simultaneous death; payment of proceeds; life insurance
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Where the individual insured and the beneficiary designated in a life insurance policy or policy insuring against accidental death have died and there is not sufficient evidence that they have died otherwise than simultaneously, the proceeds of the policy shall be distributed as …
22 V.I.C. § 837 Exemption of disability insurance proceeds
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The proceeds or avails of all contracts of disability insurance and of provisions providing benefits on account of the insured's disability which are supplemental to life insurance or annuity contracts heretofore or hereafter effected shall be exempt from all liability for any de…
22 V.I.C. § 838 Exemption of life insurance proceeds
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(a) The lawful beneficiary, assignee, or payee of a life insurance policy, other than an annuity, heretofore or hereafter effected by any person on his own life, or on the life of another, in favor of a person other than himself, shall be entitled to the proceeds and avails of th…
22 V.I.C. § 839 Exemption of group life insurance proceeds
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(a) A policy of group life insurance or the proceeds thereof payable to the individual insured or to the beneficiary thereunder shall not be liable, either before or after payment, to be applied to any legal or equitable process to pay any liability of any person having a right u…
22 V.I.C. § 840 Exemption of proceeds, commutation; annuities
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(a) The benefits, rights, privileges and options which under any annuity contract heretofore or hereafter issued are due or prospectively due the annuitant who paid the consideration for the annuity contract shall not be subject to execution nor shall the annuitant be compelled t…
22 V.I.C. § 841 Spouse's rights in life insurance policy
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(a) Every life insurance policy heretofore or hereafter made payable to or for the benefit of the spouse of the insured, and every life insurance policy heretofore or hereafter assigned, transferred, or in any way made payable to a spouse or to a trustee for the benefit of a spou…
22 V.I.C. § 842 Proof of loss; furnishing forms
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An insurer shall furnish, upon written request of any person claiming to have a loss under any insurance contract, forms of proof of loss for completion by such person. But such insurer shall not, by reason of the requirement so to furnish forms, have any responsibility for or wi…
22 V.I.C. § 843 Claims administration; waiver
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(1) None of the following acts by or on behalf of an insurer shall be deemed to constitute a waiver of any provision of a policy or of any defense of the insurer thereunder:(1) acknowledgment of the receipt of notice of loss or of claim under the policy;(2) furnishing forms for r…
22 V.I.C. § 844 Discrimination prohibited
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No insurer shall make or permit any unfair discrimination in favor of particular individuals or persons, or between insureds or subjects of insurance having substantially like insuring, risk, and exposure factors, or expense elements, in the terms or conditions of any insurance c…
22 V.I.C. § 845 Validity of noncomplying forms
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Any insurance policy, rider, or endorsement hereafter issued and otherwise valid, which contains any condition or provision not in compliance with the requirements of the title, shall not be rendered invalid thereby, but shall be construed and applied in accordance with such cond…
22 V.I.C. § 846 Construction of policies
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Every insurance contract shall be construed according to the entirety of its terms and conditions as set forth in the policy, and as amplified, extended, or modified by any rider, endorsement, or application attached to and made a part of the policy.
22 V.I.C. § 851 Scope of chapter
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(1) Nothing in this chapter shall apply to or affect—(1) any policy of Workers' Compensation Administration insurance or any policy of liability insurance with or without supplementary expense coverage therein;(2) any policy or contract of reinsurance;(3) any blanket or group pol…
22 V.I.C. § 852 Format of disability policies
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(1) No disability policy shall be delivered or issued for delivery to any person in this territory unless it otherwise complies with this title, and complies with the following:(1) it shall purport to insure only one person, except as to family expense insurance written pursuant …
22 V.I.C. § 853 Policies issued by domestic insurer for delivery in another state
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If any policy is issued by a domestic insurer for delivery to a person resident in another territory or state, and if the Commissioner of Insurance or corresponding public official of such other territory or state has advised the Commissioner that any such policy is not subject t…
22 V.I.C. § 854 Standard provisions required; substitutions; captions
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Except as provided in section 813 of this title, each such policy delivered or issued for delivery to any person in this territory shall contain the provisions as specified in sections 855–866, inclusive, of this title, in the words in which the same appear; except, that the insu…
22 V.I.C. § 855 Standard provision No. 1, entire contract; changes
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There shall be a provision as follows:“Entire contract; changes: This policy, including the endorsements and attached papers, if any, constitutes the entire contract of insurance. No change in this policy shall be valid until approved by an executive officer of the insurer and un…
22 V.I.C. § 856 —No. 2, time limit on certain defenses
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(a) There shall be a provision as follows:“Time limit on certain defenses:(a) After three years from the date of issue of this policy, no misstatements except fraudulent misstatements made by the applicant in the application for such policy shall be used to void the policy or to …
22 V.I.C. § 857 —No. 3, grace period
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There shall be a provision as follows:“Grace period: A grace period of—(insert a number not less than ‘7’ for weekly premium policies, ‘10’ for monthly premium policies, and ‘31’ for all other policies) days will be granted for the payment of each premium falling due after the fi…
22 V.I.C. § 858 —No. 4, reinstatement
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There shall be a provision as follows:“Reinstatement: If any renewal premium be not paid within the time granted the insured for payment, a subsequent acceptance of premium by the insurer or by any agent duly authorized by the insurer to accept such premium, without requiring in …
22 V.I.C. § 859 —No. 5, notice of claim
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There shall be a provision as follows:“Notice of claim: Written notice of claim must be given to the insurer within twenty days after the occurrence or commencement of any loss covered by the policy, or as soon thereafter as is reasonably possible. Notice given by or on behalf of…
22 V.I.C. § 860 —No. 6, claim forms
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There shall be a provision as follows:“Claim forms: The insurer, upon receipt of a notice of claim, will furnish to the claimant such forms as are usually furnished by it for filing proofs of loss. If such forms are not furnished within fifteen days after the giving of such notic…
22 V.I.C. § 861 —No. 7, proofs of loss
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There shall be a provision as follows:“Proofs of loss: Written proof of loss must be furnished to the insurer at its said office in case of claim for loss for which this policy provides any periodic payment contingent upon continuing loss within ninety days after the termination …
22 V.I.C. § 862 —No. 8, time of payment of claims
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There shall be a provision as follows:“Time of payment of claims: Indemnities payable under this policy for any loss other than loss for which this policy provides any periodic payment will be paid immediately upon receipt of due written proof of such loss. Subject to due written…
22 V.I.C. § 863 —No. 9, payment of claims
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(a) There shall be a provision as follows:“Payment of claims: Indemnity for loss of life will be payable in accordance with the beneficiary designation and the provisions respecting such payment which may be prescribed herein and effective at the time of payment. If no such desig…
22 V.I.C. § 864 —No. 10, physical examination and autopsy
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There shall be a provision as follows:“Physical examinations and autopsy: The insurer at its own expense shall have the right and opportunity to examine the person of the insured when and as often as it may reasonably require during the pendency of a claim hereunder and to make a…
22 V.I.C. § 865 —No. 11, legal actions
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There shall be a provision as follows:“Legal actions: No action at law or in equity shall be brought to recover on this policy prior to the expiration of sixty days after written proof of loss has been furnished in accordance with the requirements of this policy. No such action s…
22 V.I.C. § 866 —No. 12, change of beneficiary
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There shall be a provision as follows:“Change of beneficiary: Unless the insured makes an irrevocable designation of beneficiary, the right to change of beneficiary is reserved to the insured and the consent of the beneficiary or beneficiaries shall not be requisite to surrender …
22 V.I.C. § 867 Optional standard provisions
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Except as provided in section 813 of this title, no such policy delivered or issued for delivery to any person in this territory shall contain provisions respecting the matters set forth in sections 868–878, inclusive, of this title, unless such provisions are in the words in whi…
22 V.I.C. § 868 Optional standard provision No. 13, change of occupation
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There may be a provision as follows:“Change of occupation: If the insured be injured or contract sickness after having changed his occupation to one classified by the insurer as more hazardous than that stated in this policy or while doing for compensation anything pertaining to …
22 V.I.C. § 869 —No. 14, misstatement of age
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There may be a provision as follows:“Misstatement of age: If the age of the insured has been misstated, all amounts payable under this policy shall be such as the premium paid would have purchased at the correct age.” “Misstatement of age: If the age of the insured has been misst…
22 V.I.C. § 870 —No. 15, other insurance in this insurer
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(1) There may be a provision as follows:(1) “Other insurance in this insurer: If an accident or sickness or accident and sickness policy or policies previously issued by the insurer to the insured be in force concurrently herewith, making the aggregate indemnity for (insert type …
22 V.I.C. § 871 —No. 16, insurance with other insurers (provision of service or expense incurred basis)
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(a) There may be a provision as follows:“Insurance with other insurers: If there be other valid coverage, not with this insurer, providing benefits for the same loss on a provision of service basis or on an expense incurred basis and of which this insurer has not been given writt…
22 V.I.C. § 872 —No. 17, insurance with other insurers
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(a) There may be a provision as follows:“Insurance with other insurers: If there be other valid coverage, not with this insurer, providing benefits for the same loss on other than an expense incurred basis and of which this insurer has not been given written notice prior to the o…
22 V.I.C. § 873 —No. 18, relation of earnings to insurance
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(a) There may be a provision as follows:“Relation of earnings to insurance: If the total monthly amount of loss of time benefits promised for the same loss under all valid loss of time coverage upon the insured, whether payable on a weekly or monthly basis, shall exceed the month…