Virginia Code 38.2-613.1: Disclosure of agent’s moratorium required.
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If a duly appointed agent of an insurer proposes to place a policy of motor vehicle insurance as defined in § 38.2-2212 with another insurer or proposes to submit an application to the Virginia Automobile Insurance Plan solely because of a moratorium on such agent’s selling, soliciting, or negotiating new motor vehicle insurance that would otherwise be acceptable to such insurer and such placement or submission would result in the applicant‘s being charged a higher rate, the agent shall disclose to the applicant the existence of the moratorium prior to such placement or submission.
Terms Used In Virginia Code 38.2-613.1
- Applicant: means any person who seeks to contract for insurance coverage other than a person seeking group insurance that is not individually underwritten. See Virginia Code 38.2-602
- Insurer: means an insurance company. See Virginia Code 38.2-100
1991, c. 269; 2001, c. 706.