§ 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: Previous 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 NextLast modified: April 3, 2009