Purpose (§ 38.2-1600)—Virginia Decoded

Purpose

The purpose of this chapter is to establish an association that shall provide prompt payment of covered claims to reduce financial loss to claimants or policyholders resulting from the insolvency of an insurer. This association shall assist in the detection and prevention of insurer insolvencies and shall apportion the cost of this protection among insurers.

History

1970, c. 766, § 38.1-757; 1986, c. 562.

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Court Decisions

Franklin Mortg. Corp. v. Walker (COA, 04/05/88)
. . . further ignores the Virginia Guaranty Fund, Code § 38.2-16001623, which was enacted to provide . . .

Bogle Development Co., Inc. v. Buie (SCV, 11/03/95)
. . . it "involves interpreting Code Sections 38.2-1600 et seq." and because "the rights of …Company . . .

Va. Property & Cas. Ins. v. Intern. Ins. (SCV, 11/10/89)
. . . ., Code §§ 38.1-763(c) (1981 and Supp. 1985), 38.2-1600, 38.2-1603 (1986 and Supp. 1989). . . .

Uninsured Employer's Fund v. Mounts (COA, 04/22/97)
. . . insurance companies are insolvent, see Code § 38.2-1600, that he was filing for benefits for . . .

Northland Ins. v. Va. Prop. & Cas. Ins. (SCV, 06/08/90)
. . . Casualty Insurance Guaranty Association Act, Code §§ 38.2-1600 through -1623 (the Guaranty Act), . . .

Uninsured Employer's Fund v. Mounts (SCV, 02/27/98)
. . . resulting from an insurer's insolvency, § 38.2-1600, is obligated to pay such claims that . . .

Uninsured Employer's Fund v. Flanary (COA, 04/21/98)
. . . this protection among insurers." Code § 38.2-1600. The Supreme Court has noted that the statutes . . .

. . . Boyd and Stevenson Coal Company Old Republic Insurance . . . (Court of Appeals for the Fourth Circuit, 07/21/05)
. . . pursuant to Virginia Code Annotated sections 38.2-1600 and 38.2-1606, the Virginia Property and . . .

Boyd and Stevenson v. DOWCP (Court of Appeals for the Fourth Circuit, 07/21/05)
. . . . . .

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