Code of Virginia - Title 38.2 Insurance - Section 38.2-2620 Required disclosures regarding reimbursement insurance policies
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§ 38.2-2620. Required disclosures regarding reimbursement insurance policies
A. Reimbursement insurance policies insuring home service contracts issued,
sold, or offered for sale in this Commonwealth shall state that the insurer
that issued the reimbursement insurance policy shall reimburse or pay on
behalf of the provider any covered sums the provider is legally obligated to
pay and, in the event of the provider's nonperformance, shall provide the
service that the provider is legally obligated to perform according to the
provider's contractual obligations under the home service contracts issued or
sold by the provider.
B. In the event covered service is not provided by the home service contract
provider within 60 days of proof of loss by the home service contract holder,
the contract holder is entitled to apply directly to the reimbursement
insurance company.
(2006, c. 634.)
Sections: 38.2-2613 38.2-2614 38.2-2615 38.2-2616 38.2-2617 38.2-2618 38.2-2619 38.2-2620 38.2-2621 38.2-2622 38.2-2623 38.2-2624 38.2-2625 38.2-2626 38.2-2627
Last modified: April 3, 2009
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