§ 38.2-2107. Commission may establish guidelines for filing readable fire insurance policy forms
A. The Commission may establish guidelines for the filing of simplified and readable policies of insurance. An insurer may issue a simplified and readable policy of insurance that deviates in language from the standard policy form provided for in §§ 38.2-2104, 38.2-2105 and 38.2-2106 if the deviating policy form is (i) in no respect less favorable to the insured than the standard policy form, and is (ii) approved by the Commission prior to issuance.
B. Notwithstanding the pro rata liability provision included in § 38.2-2105, such simplified and readable policies may be issued to apply on an excess or primary basis if such provisions are clearly stated in the policy form and the policy is identified in its title or heading as an excess or primary insurance policy.
(1977, c. 255, § 38.1-367.1; 1979, c. 176; 1986, c. 562; 2003, c. 930.)
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