™Your Policy Risk Impact Agent
64 chapters · 1,789 sections in this title.
Va. Code Ann. § 38.2-1035 Domestic insurers to maintain minimum capital and surplus; proceedings by Commission if impairment found
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A. Each domestic insurer shall maintain at all times the minimum surplus if a mutual insurer, and the minimum capital and surplus if a stock insurer, required by §§ 38.2-1028, 38.2-1029 or § 38.2-1030. If the Commission finds that (i) the minimum capital and surplus of a domestic…
Va. Code Ann. § 38.2-1036 Impairment of capital and surplus of foreign and alien company ground for suspension or revocation of license
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Each foreign and each alien insurer shall maintain at all times the minimum surplus, capital and surplus, or trusteed surplus required by §§ 38.2-1028, 38.2-1029, 38.2-1030 or § 38.2-1031. If the Commission finds an impairment of (i) the required minimum capital and surplus of an…
Va. Code Ann. § 38.2-1037 Exceptions for licensed and operating insurers
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A. Notwithstanding the other provisions of this chapter with respect to minimum required capital and surplus, any insurer which, on June 30, 1991, was licensed to write and was writing any class of insurance in this Commonwealth may continue to write that class of insurance under…
Va. Code Ann. § 38.2-1038 Authority of Commission to issue orders covering insurers in hazardous financial condition
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If, after reviewing an insurer's financial condition, method of operation, or manner of doing business, the Commission finds that (i) the insurer cannot, or there is a reasonable expectation that the insurer will not be able to, meet its obligations to all policyholders or (ii) t…