Title 38.2, Insurance

A. No public adjuster shall require, demand, or accept any fee, retainer, compensation, deposit, or thing of value prior to the settlement of a claim. B. Except as provided in subsection C, no public adjuster shall charge, agree to, or accept as compensation or reimbursement any …

The public adjuster shall maintain sufficient records of its affairs so that the Commission may adequately ensure that the public adjuster complies with all provisions of this chapter. The public adjuster shall retain records pertaining to each claim handled for a minimum of five…

A. All funds received by, accepted by, or held by a public adjuster on behalf of a policyholder toward the settlement of a claim shall be handled in a fiduciary capacity and submitted for collection to or deposited in a separate noninterest-bearing fiduciary trust account or acco…

A. Each licensed public adjuster shall report within 30 calendar days to the Commission any change in his residence address, email address, or name. B. In addition to the requirements of §§ 59.1-69 and 59.1-70, any individual or business entity licensed as a public adjuster in th…

A. Each public adjuster shall implement a comprehensive written information security program that includes administrative, technical, and physical safeguards for the protection of policyholder information. The administrative, technical, and physical safeguards included in the inf…

A. Except as otherwise provided in this article and except where the context otherwise requires, all of the provisions of this title apply to this article. B. Pursuant to the authority granted by § 38.2-223, the Commission may promulgate such rules and regulations as may be neces…

A. No person shall engage in the business of public adjusting without first applying for and obtaining a license from the Commission, except as provided in § 38.2-1845.3. B. Each individual applicant for a public adjuster license who is at least 18 years of age, who has satisfied…

A. Any documents, materials, or other information in the control or possession of the Commission that is furnished by an insurer, agent, or public adjuster or by an employee thereof acting on behalf of the insurer, agent, or public adjuster or obtained by the Commission in an inv…

To assist in the performance of its duties, the Commission may contract with nongovernmental entities, including the NAIC, any affiliates, or subsidiaries that the NAIC oversees, to perform any ministerial functions, including licensing examination administration, the collection …

The Commission shall have power to examine and investigate the business affairs of any person engaged or alleged to be engaged in the business of public adjusting in the Commonwealth to determine whether the person has engaged or is engaging in any violation of this title. The Co…

A. No person shall knowingly make, publish, disseminate, circulate, or place before the public, or cause or knowingly allow, directly or indirectly, to be made, published, disseminated, circulated, or placed before the public in a newspaper, magazine, or other publication, or in …

A. It is unlawful for any person to engage in public adjusting or to offer or advertise public adjusting services in the Commonwealth unless the person is licensed by the Commission as a public adjuster. B. It is unlawful for any person licensed as a public adjuster to knowingly …

This article shall not apply to (i) an adjuster for or an agent or employee of an insurer or group of insurers under common control or ownership that, as a representative of the insurer or group, adjusts losses or damages under policies issued by the insurer or group; (ii) an adj…

A. Examinations for licenses shall be conducted at least monthly at the times and places prescribed by the Commission. Each applicant shall be required to pass the examination prescribed by the Commission as a condition for licensure unless otherwise exempted. B. If the applicant…

A. An individual or business entity that is not a resident as defined in subsection B of § 38.2-1800.1 but that is a resident of another state, territory, or province of Canada shall receive a nonresident public adjuster license if: 1. The applicant presents proof in a form accep…

A. An individual holding a nonresident Virginia public adjuster license who has moved into the Commonwealth from another state or a province of Canada shall submit the application and pay the license processing fee required by and in accordance with the requirements set forth in …

A. If the Commission is of the opinion that any applicant for public adjuster license is not of good character or does not have a good reputation for honesty, it may refuse to issue the license, subject to the right of the applicant to demand a hearing on the application. If the …

A. Beginning January 1, 2021, each individual licensed public adjuster shall submit biennially to the Commission a renewal application in a form and manner prescribed by the Commission, along with the nonrefundable renewal application processing fee prescribed by the Commission f…

The Commission may issue a surplus lines broker's license to any individual or business entity actively licensed as a property and casualty insurance agent for the procuring of insurance of the classes enumerated in §§ 38.2-109 through 38.2-122.2 and §§ 38.2-124 through 38.2-134 …

A. Every original applicant for a surplus lines broker license shall apply for such license in a form and manner prescribed by the Commission, and containing any information the Commission requires. Each applicant shall, at the time of applying for a license, pay a nonrefundable …

A. Beginning January 1, 2021, each individual surplus lines broker shall submit biennially to the Commission a renewal application in a form and manner prescribed by the Commission, along with a nonrefundable renewal application processing fee prescribed by the Commission, for th…

A. Each licensed surplus lines broker shall report within 30 calendar days to the Commission any change in his residence address, email address, or name. B. In addition to the requirements of §§ 59.1-69 and 59.1-70, any individual or business entity licensed as a surplus lines br…

No surplus lines broker shall accept surplus lines business from any person other than an applicant for insurance or a duly licensed property or casualty insurance agent, nor shall such surplus lines broker compensate any person other than a duly licensed property or casualty ins…

The Commission may, in addition to or in lieu of a penalty imposed under § 38.2-218, place on probation, suspend, revoke or refuse to issue or renew any surplus lines broker's license for any one or more of the following causes: 1. Providing materially incorrect, misleading, inco…

A. If the Commission is of the opinion that any applicant for a surplus lines broker's license is not of good character or does not have a good reputation for honesty, it may refuse to issue the license, subject to the right of the applicant to demand a hearing on the application…

A. An individual or business entity who is not a resident as defined in § 38.2-1800, but who is a resident of another state, territory, or province of Canada, shall receive a nonresident surplus lines broker license if: 1. The applicant presents proof in a form acceptable to the …

A. No person shall act as a viatical settlement broker, or solicit a viatical settlement contract while acting as a viatical settlement broker without first obtaining a license from the Commission. B. A resident or nonresident life and annuities insurance agent shall not be prohi…

The Commission may, in addition to or in lieu of a penalty imposed under § 38.2-218, place on probation, suspend, revoke or refuse to issue or renew any person's license for any one or more of the following causes: 1. Providing materially incorrect, misleading, incomplete or untr…

A. If the Commission is of the opinion that any applicant for a viatical settlement broker's license is not of good character or does not have a good reputation for honesty, it may refuse to issue the license, subject to the right of the applicant to demand a hearing on the appli…

A. An individual or business entity who is not a resident as defined in § 38.2-1800, but who is a resident of another state or a province of Canada, shall receive a viatical settlement broker license if: 1. The applicant presents proof in a form acceptable to the Commission that …

A. Each licensed viatical settlement broker shall report, in writing, any change in business or residence address, email address, or name within 30 calendar days to the Commission. B. In addition to the requirements of §§ 59.1-69 and 59.1-70, any individual or business entity lic…

As used in this article, unless the context requires a different meaning: "Covered customer" means a customer who elects coverage under a self storage insurance policy issued to a lessor of self storage units. "Customer" means a person who leases a self storage unit. "Lessor" mea…

A. A lessor is required to hold a limited lines property and casualty insurance agent license to sell or offer coverage under a policy of self storage insurance. B. On or before May 1, 2021, and biennially thereafter, each lessor licensed as a limited lines property and casualty …

A. At every location where self storage insurance is offered to customers, the lessor shall make available to a prospective customer brochures or other written materials that: 1. Disclose that self storage insurance may provide a duplication of coverage already provided by a cust…

A. The employees and authorized representatives of lessors may sell or offer self storage insurance to customers and shall not be subject to licensure as an insurance producer under this chapter provided that: 1. The lessor obtains a limited lines property and casualty insurance …

If a lessor or its employee or authorized representative violates any provision of this article, the Commission may do any of the following: 1. After notice and hearing, impose fines and penalties in accordance with § 38.2-218; and 2. After notice and hearing, impose any such oth…

A. Except as otherwise provided in this article and except where the context otherwise requires, all of the provisions of this title apply to this article. B. Pursuant to the authority granted by § 38.2-223, the Commission may promulgate such rules and regulations as may be neces…

A. This chapter shall be liberally construed to achieve the purposes stated in subsection B of this section. B. The purposes of this chapter are to: 1. Protect policyholders and the public against the adverse effects of excessive, inadequate or unfairly discriminatory rates; 2. E…

As used in this chapter: "Classification system" or "classification" means the plan, system, or arrangement for grouping risks with similar characteristics or a specified class of risk by recognizing differences in exposure to hazards. "Client company" shall have the same meaning…

A. Except as provided in subsection B, this chapter applies to the classes of insurance defined in §§ 38.2-110 through 38.2-122, 38.2-124 through 38.2-128 and 38.2-130 through 38.2-133. B. This chapter does not apply to: 1. Insurance written through the Virginia Workers' Compensa…

The Commission may by rule exempt any person, class of persons, or market segment from any or all of the provisions of this chapter to the extent that it finds their application unnecessary to achieve the purposes of this chapter. Retrospective rating plans and large deductible p…

A. Notwithstanding any other provision of this title, an insurer shall not be required to file with, or to receive approval from, the Commission for policy forms and rates used in the insurance of large commercial risks. B. The form approval and rate filing exemption set forth in…

A. Rates for the classes of insurance to which this chapter applies shall not be excessive, inadequate, or unfairly discriminatory. All rates and all changes and amendments to rates to which this chapter applies for use in this Commonwealth shall consider loss experience and othe…

A. No insurer may increase its insured's premium or may charge points under a safe driver insurance plan to its insured as a result of a motor vehicle accident unless the accident was caused either wholly or partially by the named insured, a resident of the same household, or oth…

A. Each authorized insurer subject to the provisions of this chapter shall file with the Commission all rates and supplementary rate information and all changes and amendments to the rates and supplementary rate information made by it for use in the Commonwealth on or before the …

Notwithstanding any other provision of this chapter, if an insurer or its agent provides a written quotation for insurance to an insured or applicant for insurance and the rate filing in effect for the insurer results in a premium increase of ten percent or more over the quoted p…