Code of Virginia - Title 38.2 Insurance - Chapter 27 Basic Property Insurance Residual Market Facility And Joint Underwriting Association

38.2-2700 Purposes of chapter
The purposes of this chapter are: 1. To assure stability in the property insurance market of this Commonwealth; 2. To assure the availability of basic ...

38.2-2701 Definitions
As used in this chapter: "Basic property insurance" means insurance against direct loss to any property caused by perils defined and limited in the standard ...

38.2-2702 Establishment of residual market facility
A. A residual market facility shall be established and maintained by all insurers licensed to write basic property insurance or other insurance containing a basic ...

38.2-2703 Rules, rates, policy forms and endorsements subject to the approval of Commission
The rules, rates, policy forms, and endorsements of the residual market facility shall be subject to the Commission's approval prior to use. (1986, c. 562.) ...

38.2-2704 Inspection of property
Any person having an insurable interest in real property and tangible personal property at a fixed location in this Commonwealth is entitled, upon request, to ...

38.2-2705 Operation of inspection service
A. The residual market facility may employ other organizations to perform inspection services to determine whether property is within the definition of qualified property. B. ...

38.2-2706 Service of process
Service of any notice, proof of loss, legal process or other communication relating to the policy or any notice or order of the Commission shall ...

38.2-2707 When Commission may order implementation of {{ 38.2-2708 and 38.2-2709
If the Commission finds, after a reasonable period of time, that the residual market facility established by § 38.2-2702 is not creating a market that ...

38.2-2708 Creation and plan of operation of joint underwriting association
A. After providing notice and opportunity to be heard and upon promulgation of an order by the Commission pursuant to § 38.2-2707, a joint underwriting ...

38.2-2709 Ceding basic property insurance to association; participation of members; governing body
A. Any member of the joint underwriting association may cede to the association basic property insurance written on qualified property, to the extent and on ...

38.2-2710 Supervision and regulation by Commission
The residual market facility, any inspection service, and any joint underwriting association shall at all times be subject to the supervision and regulation of the ...

38.2-2711 Immunity from liability; reports, etc., not public documents
A. There shall be no liability on the part of, and no cause of action shall arise against any insurer, any inspection service, the residual ...

38.2-2712 Appeal from decision of inspection service, residual market facility or joint underwriting associat...
Any person aggrieved by any action or decision of an inspection service, the residual market facility, or the joint underwriting association may appeal to the ...

38.2-2713 Obligations not to be impaired in event of repeal of chapter
If the General Assembly repeals this chapter, (i) the obligations incurred by the residual market facility and the joint underwriting association and policies issued by ...