{"law_id":"789653","section_number":"38.2-2116","catch_line":"Policies issued by two or more insurers","history":"Code 1950, \u00a7 38-183; 1952, c. 317, \u00a7 38.1-372; 1986, c. 562.","order_by":null,"metadata":false,"court_decisions":{},"official_url":"http:\/\/law.lis.virginia.gov\/vacode\/38.2-2116\/","refers_to":false,"url":"\/38.2-2116\/","token":"38.2\/21\/38.2-2116","structure":{"1":{"id":"849","name":"Fire Insurance Policies","identifier":"21","label":"chapter","url":"\/38.2\/21\/"},"2":{"id":"7","name":"Insurance","identifier":"38.2","label":"title","url":"\/38.2\/"}},"referred_to_by":false,"edition_id":"11","section_id":"789653","structure_id":"849","full_text":"A With the consent of the Commission, two or more licensed insurers may jointly issue a policy, using a distinctive title that is prominently printed on the policy followed by the names and the home office addresses of the insurers obligated under the policy. The policy shall be executed by the proper officers of each insurer. Before issuance, the form and any terms of the policy that are in addition to the standard provisions set out in \u00a7\u00a7 38.2-2104 and 38.2-2105 shall be approved by the Commission. The terms of the policy shall not be inconsistent with the standard provisions, and shall be placed under a separate title headed as follows: “Provisions specially applicable to this jointly issued policy.” The special provisions shall contain in substance that:\r\rB The unearned premium reserve on each policy shall be allocated to each insurer on the basis of each insurer’s pro rata share of the face amount of the policy, except to the extent that the risk is transferred under a valid contract of reinsurance.\r\r","text":{"0":{"id":"2547986","text":"With the consent of the Commission, two or more licensed insurers may jointly issue a policy, using a distinctive title that is prominently printed on the policy followed by the names and the home office addresses of the insurers obligated under the policy. The policy shall be executed by the proper officers of each insurer. Before issuance, the form and any terms of the policy that are in addition to the standard provisions set out in \u00a7\u00a7 38.2-2104 and 38.2-2105 shall be approved by the Commission. The terms of the policy shall not be inconsistent with the standard provisions, and shall be placed under a separate title headed as follows: “Provisions specially applicable to this jointly issued policy.” The special provisions shall contain in substance that:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1},"1":{"id":"2547987","text":" The insurers executing the policy are severally liable for the full amount of any loss or damage according to the terms of the policy or for specified percentages or amounts of any loss or damage aggregating the full amount of insurance under the policy; and","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2},"2":{"id":"2547988","text":" Service of process upon, or notice of proof of loss required by the policy and given to any of the insurers executing the policy, shall be deemed to be service upon or notice to all such insurers.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2},"3":{"id":"2547989","text":"The unearned premium reserve on each policy shall be allocated to each insurer on the basis of each insurer’s pro rata share of the face amount of the policy, except to the extent that the risk is transferred under a valid contract of reinsurance.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1}},"ancestry":{"1":{"id":"849","name":"Fire Insurance Policies","identifier":"21","label":"chapter","url":"\/38.2\/21\/"},"2":{"id":"7","name":"Insurance","identifier":"38.2","label":"title","url":"\/38.2\/"}},"structure_contents":{"0":{"id":"766377","structure_id":"849","section_number":"38.2-2100","catch_line":"Application of chapter","url":"\/38.2-2100\/","token":"38.2\/21\/38.2-2100"},"1":{"id":"787887","structure_id":"849","section_number":"38.2-2101","catch_line":"Policies shall conform to provisions of this chapter","url":"\/38.2-2101\/","token":"38.2\/21\/38.2-2101"},"2":{"id":"765651","structure_id":"849","section_number":"38.2-2102","catch_line":"Excluding loss or damage caused by nuclear reaction, nuclear radiation, or radioactive contamination","url":"\/38.2-2102\/","token":"38.2\/21\/38.2-2102"},"3":{"id":"768331","structure_id":"849","section_number":"38.2-2103","catch_line":"Information to be printed on policy","url":"\/38.2-2103\/","token":"38.2\/21\/38.2-2103"},"4":{"id":"766162","structure_id":"849","section_number":"38.2-2107","catch_line":"Commission may establish guidelines for filing readable fire insurance policy forms","url":"\/38.2-2107\/","token":"38.2\/21\/38.2-2107"},"5":{"id":"796497","structure_id":"849","section_number":"38.2-2108","catch_line":"Standards for content of fire insurance policies","url":"\/38.2-2108\/","token":"38.2\/21\/38.2-2108"},"6":{"id":"771408","structure_id":"849","section_number":"38.2-2109","catch_line":"Execution of policies","url":"\/38.2-2109\/","token":"38.2\/21\/38.2-2109"},"7":{"id":"767565","structure_id":"849","section_number":"38.2-2110","catch_line":"Other matter permitted in the policy","url":"\/38.2-2110\/","token":"38.2\/21\/38.2-2110"},"8":{"id":"792030","structure_id":"849","section_number":"38.2-2111","catch_line":"Special regulations to be added to policy","url":"\/38.2-2111\/","token":"38.2\/21\/38.2-2111"},"9":{"id":"780725","structure_id":"849","section_number":"38.2-2112","catch_line":"Temporary insurance contracts; duration; what deemed to include","url":"\/38.2-2112\/","token":"38.2\/21\/38.2-2112"},"10":{"id":"775586","structure_id":"849","section_number":"38.2-2113","catch_line":"Mailing or electronic delivery of notice of cancellation or refusal to renew","url":"\/38.2-2113\/","token":"38.2\/21\/38.2-2113"},"11":{"id":"784991","structure_id":"849","section_number":"38.2-2114","catch_line":"Grounds and procedure for termination of policy; contents of notice; review by Commissioner; exceptions; immunity from liability","url":"\/38.2-2114\/","token":"38.2\/21\/38.2-2114"},"12":{"id":"765821","structure_id":"849","section_number":"38.2-2114.1","catch_line":"Powers of Commission; replacement policies","url":"\/38.2-2114.1\/","token":"38.2\/21\/38.2-2114.1"},"13":{"id":"770743","structure_id":"849","section_number":"38.2-2115","catch_line":"Discrimination in issuance of fire insurance","url":"\/38.2-2115\/","token":"38.2\/21\/38.2-2115"},"14":{"id":"789653","structure_id":"849","section_number":"38.2-2116","catch_line":"Policies issued by two or more insurers","url":"\/38.2-2116\/","token":"38.2\/21\/38.2-2116"},"15":{"id":"775880","structure_id":"849","section_number":"38.2-2117","catch_line":"Approval of forms or provisions for additional coverage","url":"\/38.2-2117\/","token":"38.2\/21\/38.2-2117"},"16":{"id":"778268","structure_id":"849","section_number":"38.2-2118","catch_line":"(Applicable to new or renewal policies issued on or after January 1, 2017) Required statement on insurance policies for owner-occupied dwellings","url":"\/38.2-2118\/","token":"38.2\/21\/38.2-2118"},"17":{"id":"766195","structure_id":"849","section_number":"38.2-2118","catch_line":"(Applicable to new or renewal policies issued before January 1, 2017) Required statement on insurance policies for owner-occupied dwellings","url":"\/38.2-2118\/","token":"38.2\/21\/38.2-2118"},"18":{"id":"793490","structure_id":"849","section_number":"38.2-2119","catch_line":"(Applicable to new or renewal policies issued on or after January 1, 2017) Approval of forms or provisions for certain risks","url":"\/38.2-2119\/","token":"38.2\/21\/38.2-2119"},"19":{"id":"793796","structure_id":"849","section_number":"38.2-2119","catch_line":"(Applicable to new or renewal policies issued before January 1, 2017) Approval of forms or provisions for certain risks","url":"\/38.2-2119\/","token":"38.2\/21\/38.2-2119"},"20":{"id":"780075","structure_id":"849","section_number":"38.2-2120","catch_line":"(Applicable to new or renewal policies issued on or after January 1, 2017) Optional coverage to be offered with homeowner's policy","url":"\/38.2-2120\/","token":"38.2\/21\/38.2-2120"},"21":{"id":"782742","structure_id":"849","section_number":"38.2-2120","catch_line":"(Applicable to new or renewal policies issued before January 1, 2017) Optional coverage to be offered with homeowner's policy","url":"\/38.2-2120\/","token":"38.2\/21\/38.2-2120"},"22":{"id":"777510","structure_id":"849","section_number":"38.2-2121","catch_line":"When courts may appoint umpires","url":"\/38.2-2121\/","token":"38.2\/21\/38.2-2121"},"23":{"id":"778858","structure_id":"849","section_number":"38.2-2122","catch_line":"Appraisers and umpire to be citizens of Virginia; oath to be taken","url":"\/38.2-2122\/","token":"38.2\/21\/38.2-2122"},"24":{"id":"788307","structure_id":"849","section_number":"38.2-2123","catch_line":"Chapter not applicable to certain mutual insurers","url":"\/38.2-2123\/","token":"38.2\/21\/38.2-2123"},"25":{"id":"781690","structure_id":"849","section_number":"38.2-2124","catch_line":"Optional coverage to be offered with fire insurance policy","url":"\/38.2-2124\/","token":"38.2\/21\/38.2-2124"},"26":{"id":"774966","structure_id":"849","section_number":"38.2-2125","catch_line":"Notice regarding flood exclusion","url":"\/38.2-2125\/","token":"38.2\/21\/38.2-2125"},"27":{"id":"784198","structure_id":"849","section_number":"38.2-2126","catch_line":"Insurance credit score disclosure; use of credit information","url":"\/38.2-2126\/","token":"38.2\/21\/38.2-2126"},"28":{"id":"783482","structure_id":"849","section_number":"38.2-2127","catch_line":"Notice of change in deductible","url":"\/38.2-2127\/","token":"38.2\/21\/38.2-2127"},"29":{"id":"773150","structure_id":"849","section_number":"38.2-2128","catch_line":"Certain exclusions permitted","url":"\/38.2-2128\/","token":"38.2\/21\/38.2-2128"},"30":{"id":"786768","structure_id":"849","section_number":"38.2-2129","catch_line":"Notice regarding earthquake exclusion","url":"\/38.2-2129\/","token":"38.2\/21\/38.2-2129"},"31":{"id":"775830","structure_id":"849","section_number":"38.2-2130","catch_line":"Coverage for volunteer fire department costs","url":"\/38.2-2130\/","token":"38.2\/21\/38.2-2130"}},"previous_section":{"id":"770743","structure_id":"849","section_number":"38.2-2115","catch_line":"Discrimination in issuance of fire insurance","url":"\/38.2-2115\/","token":"38.2\/21\/38.2-2115"},"next_section":{"id":"775880","structure_id":"849","section_number":"38.2-2117","catch_line":"Approval of forms or provisions for additional coverage","url":"\/38.2-2117\/","token":"38.2\/21\/38.2-2117"},"references":false,"formats":{"txt":"\/38.2-2116.txt","json":"\/38.2-2116.json","xml":"\/38.2-2116.xml"},"dublin_core":{"Title":"Policies issued by two or more insurers","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-2116","Relation":"Code of Virginia"},"plain_text":"                                 CODE OF VIRGINIA\n\nPOLICIES ISSUED BY TWO OR MORE INSURERS (\u00a7 38.2-2116)\n\nA. With the consent of the Commission, two or more licensed insurers may jointly\nissue a policy, using a distinctive title that is prominently printed on the\npolicy followed by the names and the home office addresses of the insurers\nobligated under the policy. The policy shall be executed by the proper officers\nof each insurer. Before issuance, the form and any terms of the policy that are\nin addition to the standard provisions set out in \u00a7\u00a7 38.2-2104 and 38.2-2105\nshall be approved by the Commission. The terms of the policy shall not be\ninconsistent with the standard provisions, and shall be placed under a separate\ntitle headed as follows: “Provisions specially applicable to this jointly\nissued policy.” The special provisions shall contain in substance that:\n\n   1.  The insurers executing the policy are severally liable for the full amount\n   of any loss or damage according to the terms of the policy or for specified\n   percentages or amounts of any loss or damage aggregating the full amount of\n   insurance under the policy; and\n\n   2.  Service of process upon, or notice of proof of loss required by the policy\n   and given to any of the insurers executing the policy, shall be deemed to be\n   service upon or notice to all such insurers.\n\nB. The unearned premium reserve on each policy shall be allocated to each\ninsurer on the basis of each insurer’s pro rata share of the face amount\nof the policy, except to the extent that the risk is transferred under a valid\ncontract of reinsurance.\n\nHISTORY: Code 1950, \u00a7 38-183; 1952, c. 317, \u00a7 38.1-372; 1986, c. 562."}