West Virginia Code 33-32-12 – Prohibited coverage
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No risk retention group may offer insurance policy coverage prohibited by chapter thirty-three of this code or ruled unlawful by the highest court of this state.
Terms Used In West Virginia Code 33-32-12
- Insurance: means primary insurance, excess insurance,
reinsurance, surplus lines insurance and any other arrangement for shifting and distributing risk which is determined to be insurance under the laws of this state. See West Virginia Code 33-32-2
- Risk retention group: means any corporation or other
limited liability association formed under the laws of any state: (1) Whose primary activity consists of assuming and spreading all, or any portion, of the liability exposure of its group members. See West Virginia Code 33-32-2
- State: means any state of the United States or the District of Columbia. See West Virginia Code 33-32-2