™Your Policy Risk Impact Agent
49 chapters · 915 sections in this title.
22 V.I.C. § 1 Scope of title
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All insurance and insurance transactions in this territory, or affecting subjects located wholly or in part or to be performed within this territory, and all persons having to do therewith are governed by this title; and where there is a conflict or inconsistency between this tit…
22 V.I.C. § 2 Public interest
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The business of insurance is one affected by the public interest, requiring that all persons be actuated by good faith, abstain from deception, and practice honesty and equity in all insurance matters. Upon the insurer, the insured, and their representatives rests the duty of pre…
22 V.I.C. § 3 Insurance defined
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“Insurance” is a contract whereby one party undertakes to indemnify another for loss, damage, or liability, or to pay or provide a specified or ascertainable benefit, upon determinable contingencies.
22 V.I.C. § 4 Insurer defined
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“Insurer”, as used in this title, means a corporation or association which is engaged as principal in the business of making contracts of insurance, but shall not include an insurance broker acting as a broker.
