Virginia Code 65.2-820: Application to State Corporation Commission for assignment of risk; insurer assigned risk to issue policy
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Every employer subject to the provisions of this chapter who has been unable to obtain a workers’ compensation insurance policy shall have the right to apply to the State Corporation Commission to have his risk assigned to an insurance carrier licensed to write and writing workers’ compensation insurance in this Commonwealth. The insurance carrier, whether stock, mutual, reciprocal or interinsurer or other type or form of organization, to whom any such risk is assigned shall issue a policy of workers’ compensation insurance which will enable such employer to meet the requirements of this chapter.
Terms Used In Virginia Code 65.2-820
- Commission: means the Virginia Workers' Compensation Commission as well as its former designation as the Virginia Industrial Commission. See Virginia Code 65.2-101
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Employer: includes (i) any person, the Commonwealth or any political subdivision thereof and any individual, firm, association or corporation, or the receiver or trustee of the same, or the legal representative of a deceased employer, using the service of another for pay and (ii) any volunteer fire company or volunteer emergency medical services agency electing to be included and maintaining coverage as an employer under this title. See Virginia Code 65.2-101
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
Code 1950, § 65-114.1; 1956, c. 358; 1968, c. 660, § 65.1-119; 1991, c. 355.