Title 38.2, Title 38.2. Insurance

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…

A. Every individual resident and nonresident (i) insurance consultant, (ii) life and annuities insurance agent, (iii) health agent, (iv) property and casualty insurance agent (v) personal lines agent, and (vi) title insurance agent shall, on a biennial basis, furnish evidence as …

A. An insurance continuing education board, hereinafter called the Board, appointed by the Commission, shall approve all continuing education instructors, programs of instruction, and courses, including technical courses or agency management and operations courses, and shall eval…

A. As used in this article: "Proof of compliance" means all fees prescribed by the Board and all documents and forms specified by the Board for demonstrating completion of Board-approved continuing education courses relevant to the license held and for the required number of hour…

A. Failure of an agent or public adjuster to complete all continuing education course or waiver requirements, pay any fee imposed by the Board, or otherwise furnish proof of compliance during the two-year period set forth in subsection B of § 38.2-1868.1, or to complete the licen…

A. A resident or nonresident agent or public adjuster who has been issued a license during the last 13 months of the two-year period set forth in subsection B of § 38.2-1868.1 and in §§ 38.2-1825.1, 38.2-1840, and 38.2-1845.8 shall be exempt from fulfilling the continuing educati…

A. The Board shall have the authority to transfer all or part of its administrative duties to an outside administrator. The performance of the administrator shall be confirmed at least annually by the Board and appropriate corrective action shall be taken for any deficiencies. Su…

The continuing insurance education program established by this article shall be self-supporting, and any costs incurred by the Board, its members, its administrator, or the Commission in connection with the good faith execution of their respective duties pertaining to the continu…

A. The Board shall submit to the Commission a plan of operation that provides for the fair and nondiscriminatory administration of the continuing insurance education program established pursuant to this article. Such plan shall not become effective until approved by the Commissio…

As used in this article, unless the context requires a different meaning: "Covered customer" means a customer who elects coverage under a portable electronics insurance policy issued to a vendor of portable electronics. "Customer" means a person who purchases portable electronics…

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

A. At every location where portable electronics insurance is offered to customers, the vendor shall make available to a prospective customer brochures or other written materials that: 1. Disclose that portable electronics insurance may provide a duplication of coverage already pr…

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

If a vendor of portable electronics 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 hear…

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…

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 article applies to travel insurance that covers any resident of the Commonwealth, any travel insurance sold, solicited, negotiated, or offered in the Commonwealth, and any travel insurance policies or certificates delivered or issued for delivery in the Commonwealth. This…

A. The Commission may issue a limited lines travel insurance agent license to an individual or business entity that has filed with the Commission an application for a limited lines travel insurance agent license in a form and manner prescribed by the Commission. The limited lines…

A. If a limited lines travel insurance agent or travel retailer 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; …

Travel protection plans may be offered for one price for the combined features that the travel protection plan offers in the Commonwealth if: 1. The travel protection plan clearly discloses to the consumer at or prior to the time of purchase that it includes travel insurance, tra…

A. For the purposes of this section, "delivery" means handing fulfillment materials to the primary policyholder or primary certificate holder or sending fulfillment materials by United States Postal Service mail or by any other delivery service or electronic means to the policyho…

A. Notwithstanding any other provision of this title, no person shall act or represent itself as a travel administrator for travel insurance in the Commonwealth unless that person: 1. Is a licensed property and casualty insurance agent in the Commonwealth for activities permitted…

A. Notwithstanding any other provision of this title, travel insurance shall be classified and filed for purposes of rates and forms under the inland marine line of insurance as set forth in § 38.2-126. B. Travel insurance may be in the form of an individual, group, or blanket po…

A. If a limited lines travel insurance agent or travel retailer 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; …

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…