§ 46.2-466. Regulations for assignment, rate classifications, and schedules
The Commission may make reasonable regulations for the assignment of risks to insurance carriers.
It shall establish rate classifications, rating schedules, rates, and regulations to be used by insurance carriers issuing assigned risk, policies of motor vehicle liability, physical damage, and medical payments insurance in accordance with this chapter as appear to it to be proper.
In the establishment of rate classifications, rating schedules, rates, and regulations, it shall be guided by the principles and practices which have been established under its statutory authority to regulate motor vehicle liability, physical damage, and medical payments insurance rates and it may act in conformity with its statutory discretionary authority in such matters.
(Code 1950, § 46-487; 1958, c. 541, § 46.1-498; 1972, c. 842; 1989, c. 727.)
Sections: Previous 46.2-459 46.2-460 46.2-461 46.2-462 46.2-463 46.2-464 46.2-465 46.2-466 46.2-467 46.2-468 46.2-469 46.2-470 46.2-471 46.2-472 46.2-473 NextLast modified: April 3, 2009