Virginia Code 38.2-1902: Scope of chapter
A. Except as provided in subsection B, this chapter applies to the classes of insurance defined in §§ 38.2-110 through 38.2-122, 38.2-124 through 38.2-128 and 38.2-130 through 38.2-133.
Terms Used In Virginia Code 38.2-1902
- Accident and sickness insurance: means insurance against loss resulting from sickness, or from bodily injury or death by accident or accidental means, or from a combination of any or all of these perils. See Virginia Code 38.2-109
- Annuities: means all agreements to make periodic payments in specified or calculable sums pursuant to the terms of a contract for a stated period of time or for the life of the person or persons specified in the contract. See Virginia Code 38.2-106
- Commission: means the State Corporation Commission. See Virginia Code 38.2-100
- Company: means any association, aggregate of individuals, business, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
- Insurance company: means any company engaged in the business of making contracts of insurance. See Virginia Code 38.2-100
- Life insurance: includes policies that also provide (i) endowment benefits; (ii) additional benefits incidental to a loss in the event of death, dismemberment, or loss by accident or accidental means; (iii) additional benefits to safeguard the contract from lapse or to provide a special surrender value, a special benefit or an annuity, in the event of total and permanent disability of the insured; and (iv) optional modes of settlement of proceeds. See Virginia Code 38.2-102
- rates: means any rate of premium, policy fee, membership fee or any other charge made by an insurer for or in connection with a contract or policy of insurance. See Virginia Code 38.2-100
B. This chapter does not apply to:
1. Insurance written through the Virginia Workers’ Compensation Plan pursuant to Chapter 20 (§ 38.2-2000 et seq.) of this title;
2. Insurance on a specific risk as provided in § 38.2-1920;
3. Reinsurance, other than joint reinsurance, to the extent stated in § 38.2-1915;
4. Life insurance as defined in § 38.2-102;
5. Annuities as defined in §§ 38.2-106 and 38.2-107;
6. Accident and sickness insurance as defined in § 38.2-109;
7. Title insurance as defined in § 38.2-123;
8. Insurance of vessels or craft used primarily in a trade or business, their cargoes, marine builders’ risks and marine protection and indemnity;
9. Insurance against loss of or damage to hulls of aircraft, including their accessories and equipment, or against liability, other than workers’ compensation and employers’ liability, arising out of the ownership, maintenance or use of aircraft;
10. Insurance written through the Virginia Automobile Insurance Plan. However, § 38.2-1905 shall apply to insurance written through the Plan;
11. Insurance provided pursuant to Chapter 27 (§ 38.2-2700 et seq.);
12. Home protection contracts as defined by § 38.2-2600 and their rates until such time as the Commission determines there is sufficient competition in the industry as provided by § 38.2-2608.
C. This chapter shall not apply to any class of insurance written (i) by any mutual assessment property and casualty insurance company organized and operating under the laws of this Commonwealth and doing business only in this Commonwealth or (ii) by any mutual insurance company or association organized under the laws of this Commonwealth, conducting business only in this Commonwealth, and issuing only policies providing for perpetual insurance.
1973, c. 504, § 38.1-279.31; 1976, c. 636; 1981, c. 530; 1986, c. 562; 1987, c. 519; 1993, cc. 774, 985; 1995, cc. 744, 803; 2000, c. 526; 2002, c. 145; 2022, c. 180.