Virginia Code 38.2-1909: Review of rates by Commission
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The Commission may investigate and determine, (i) upon its own motion, (ii) at the request of any citizen or any interested party in this Commonwealth, or (iii) at the request of any insurer subject to this chapter, whether rates in this Commonwealth for the classes of insurance to which this chapter applies are excessive, inadequate or unfairly discriminatory or whether loss experience and other factors within the Commonwealth are being properly used to determine the rates. In any such investigation and determination the Commission shall give separate consideration to those factors in the manner specified in § 38.2-1904.
Terms Used In Virginia Code 38.2-1909
- Commission: means the State Corporation Commission. See Virginia Code 38.2-100
- Insurer: means an insurance company. See Virginia Code 38.2-100
- 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
1973, c. 504, § 38.1-279.37; 1986, c. 562; 1987, c. 697.