West Virginia Code 33-32-9 – Notice to purchasers
Every application form for insurance from a risk retention group and any policy issued by a risk retention group shall contain in ten-point type on the front page and the declaration page, the following notice:
Terms Used In West Virginia Code 33-32-9
- 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
NOTICE
This policy is issued by your risk retention group. Your risk retention group may not be subject to all of the insurance laws and rules of your state. State insurance insolvency guaranty funds are not available for your risk retention group.