Code of Virginia - Title 38.2 Insurance - Chapter 20 Regulation Of Rates For Certain Types Of Insurance

38.2-2000 Purposes of chapter
A. The purposes of this chapter are to protect policyholders and the public against the adverse effects of excessive, inadequate, or unfairly discriminatory insurance rates, ...

38.2-2000.1 Definitions
As used in this chapter: "Pool" means an arrangement, either voluntary or mandated by law, established on an on-going basis, pursuant to which two or ...

38.2-2001 Insurance to which chapter applies
This chapter applies only to (i) insurance written through the Virginia Workers' Compensation Insurance Plan, (ii) the coverages provided in the Virginia Automobile Insurance Plan, ...

38.2-2002 Joint underwriting and joint reinsurance
A. 1. Each group, association or other organization of insurers that engages in joint underwriting or joint reinsurance for the insurance to which this chapter ...

38.2-2002.1 Residual market mechanism; reinsurance pool
Notwithstanding any other provision of law, insurers and rate service organizations participating in joint reinsurance pools organized for the purpose of establishing a residual market ...

38.2-2003 Rate filings by insurer; supporting information
A. Each insurer writing in this Commonwealth a class of insurance to which this chapter applies shall file with the Commission every manual of classifications, ...

38.2-2004 Filings by rate service organization
An insurer may satisfy its obligation to make the rate filings required in § 38.2-2003 by becoming a member of or a subscriber to a ...

38.2-2005 Provisions governing making of rates
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 ...

38.2-2006 Approval by Commission prerequisite to use of filing
A. Except as provided in § 38.2-2010, no filing shall become effective, be applied, or be used in this Commonwealth until it has been approved ...

38.2-2006.1 Approval by the Commission for credit property and credit involuntary unemployment insurance rate...
No rate charged in connection with a credit involuntary unemployment insurance policy, endorsement, or certificate issued in this Commonwealth, and no rate charged in connection ...

38.2-2007 Commission to determine if notice of filing to be published; hearing; approval or disapprova...
A. When a filing has been made with the Commission, the Commission shall determine whether publication of notice of the filing is necessary. If the ...

38.2-2008 Review of rates by Commission
The Commission may investigate and determine, (i) upon its own motion, (ii) at the request of any citizen of this Commonwealth, or (iii) at the ...

38.2-2009 Description unavailable
Repealed by Acts 1993, c. 985, effective January 1, 1994. ...

38.2-2010 Suspension or modification of requirement for filing
The Commission, by order, may suspend or modify the filing requirement of this chapter for any kind of insurance or subdivision or combination of insurance, ...

38.2-2011 Interchange of rating data and information
To promote uniform administration of rate regulatory laws, the Commission and each insurer and each rate service organization subject to this chapter may (i) exchange ...

38.2-2012 Collection of experience data; uniformity; compilations available to insurers and rate service orga...
A. The Commission may promulgate reasonable rules and statistical plans for each of the rating systems on file with it, which may be modified from ...

38.2-2013 Excess rate for specific risk
Subject to the Commission's approval, a rate in excess of that provided by an applicable filing may be used for a specific risk upon the ...

38.2-2014 Contract or policy to accord with filings
No insurer shall make or issue an insurance policy or contract to which this chapter applies, except in accordance with the filings that are in ...

38.2-2015 Agreements for equitable apportionment of insurance; reasonable performance standards; Virginia Wor...
A. Agreements among insurers may be made for the equitable apportionment among them of insurance that may be afforded applicants who are in good faith ...

38.2-2016 Information regarding rates to be furnished insured
Each rate service organization and each insurer subject to this chapter that makes its own rates shall furnish to any insured affected by those rates, ...

38.2-2017 No rule prohibiting or regulating payment of dividends, etc., to be adopted
No rate service organization subject to this chapter shall adopt any rule prohibiting or regulating the payment of dividends, savings or unabsorbed premium deposits allowed ...

38.2-2018 Person aggrieved by application of rating system to be heard; appeal to Commission
Each rate service organization and each insurer subject to this chapter that makes its own rates shall provide within this Commonwealth reasonable means whereby any ...

38.2-2019 Cooperation among rate service organizations, or among rate service organizations and insurers, aut...
Cooperation among rate service organizations or among rate service organizations and insurers in rate making or in other matters within the scope of this chapter ...

38.2-2020 Rate service organization may procure actuarial, technical or other services
Any rate service organization subject to this chapter may subscribe for or purchase actuarial, technical or other services if these services are available without discrimination ...

38.2-2021 Examination of policies or other evidences of insurance
Any rate service organization subject to this chapter for the classes of insurance for which it files rates may provide for the examination of policies, ...

38.2-2022 Advisory organizations defined
For the purpose of this article, "advisory organization" means any group, association or other organization of insurers, located within or outside this Commonwealth, that assists ...

38.2-2023 What to be filed with Commission by advisory organization
Each advisory organization shall file with the Commission: 1. A copy of its constitution, its articles of agreement or association or its certificate of incorporation, ...

38.2-2024 Unfair acts or practices of advisory organization
If after a hearing the Commission finds that the furnishing of information or assistance by any advisory organization involves any act or practice that is ...

38.2-2025 Statistics or recommendations by advisory organization not complying with this article or order of ...
No insurer that makes its own filings nor any rate service organization shall support its filings by statistics or adopt rate making recommendations furnished to ...

38.2-2026 Action of Commission upon request for hearing on order or decision made without a hearing
A. Any person aggrieved by an order or a decision of the Commission made under this chapter without a hearing may, within thirty days after ...

38.2-2027 Withholding information; giving false or misleading information
No person shall willfully withhold information from or knowingly give false or misleading information to (i) the Commission, (ii) any statistical agency designated by the ...