§ 38.2-5107. Insurers; exemptions from certain laws relating to the group purchase of insurance
A. An insurer shall be exempt from any law of this Commonwealth which prohibits providing, or offering to provide, to a purchasing group or its members advantages based on their loss and expense experience not afforded to other persons with respect to rates, policy forms, coverages, or other matters.
B. Any insurer who transacts the business of insurance in this Commonwealth with a purchasing group or its members shall comply with the provisions of § 38.2-1024 and all other statutes in Title 38.2 which are applicable to licensed insurers, unless the insurer has received prior approval of the Commission to issue surplus lines insurance pursuant to Chapter 48 of this title.
(1987, c. 585.)Sections: Previous 38.2-5100 38.2-5101 38.2-5102 38.2-5103 38.2-5104 38.2-5105 38.2-5106 38.2-5107 38.2-5108 38.2-5109 38.2-5110 38.2-5111 38.2-5112 38.2-5113 38.2-5114 Next
Last modified: April 16, 2009