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Insurable interest required; property insurance (§ 38.2-303)
2016A No insurance contract on property or on any interest therein or arising therefrom shall be enforceable except for the benefit of persons having an insurable interest in the property insured. B As used in this section, “insurable interestR . . .
Statements required in variable life insurance and variable annuity contracts and certificates issued pursuant to group variable life insurance and group variable annuity contracts (§ 38.2-3114)
2016Any variable life insurance or variable annuity contract delivered or issued for delivery in this Commonwealth, and any certificate evidencing variable benefits issued pursuant to any life insurance or annuity contract issued on a group basis shall: . . .
Re-underwriting individual under existing group or individual accident and sickness insurance policy prohibited; exceptions (§ 38.2-508.5)
2016A No premium increase, including a reduced premium increase in the form of a discount, may be implemented for an insured individual under existing individual health insurance coverage as defined in subsection B of § 38.2-3431 subsequent to the initi . . .
Expense of administration of insurance laws borne by licensees; minimum contribution (§ 38.2-400)
2016A The expense of maintaining the Bureau of the Commission responsible for administering the insurance laws of this Commonwealth, including a reasonable margin in the nature of a reserve fund, shall be assessed annually by the Commission against all c . . .
Duties of insurance companies upon acquiring certain vehicles (§ 46.2-1602.1)
2016Every insurance company which acquires, as a result of the claims process, any late model vehicle titled in the Commonwealth or any recovered stolen vehicle whose estimated cost of repair exceeds seventy-five percent of its actual cash value shall ap . . .
Examination of policies or other evidences of insurance (§ 38.2-2021)
2016Any rate service organization subject to this chapter for the classes of insurance for which it files rates may provide for the examination of policies, daily reports, binders, renewal certificates, endorsements or other evidences of insurance, or ev . . .
Health insurance credits for retired teachers (§ 51.1-1401)
2016A A teacher, as defined in § 51.1-124.3, retired under the Virginia Retirement System, including the hybrid retirement program described in § 51.1-169, and any employee retired under a defined contribution plan pursuant to § 51.1-126.6, who render . . .
County may provide motor vehicle liability insurance to protect operators of motor vehicles owned or leased by county, school board, etc (§ 15.2-1214)
2016The governing body of any county may provide motor vehicle liability insurance for the purpose of protecting all operators of motor vehicles owned or leased by the county, the county school board, or any sanitary district, authority, or other governm . . .
(Applicable to new or renewal policies issued before January 1, 2017) Required statement on insurance policies for owner-occupied dwellings (§ 38.2-2118)
2016Each insurer writing insurance on owner-occupied dwellings and appurtenant structures with a replacement cost provision under the provisions of Chapter 19 (§ 38.2-1900 et seq.) of this title shall give each applicant for insurance a statement summar . . .
Obligation of person maintaining escrow account to pay taxes and insurance; penalties (§ 6.2-414)
2016Any lender or other person maintaining escrow accounts for the payment of taxes or insurance, who on receipt of notice thereof, fails to make timely payment therefor, and incurs a penalty or late charge thereon or a cancellation for nonpayment if the . . .