Virginia Wind Underwriting Association; created. (HB89)
Introduced By
Del. Terry Kilgore (R-Gate City)
Progress
√ |
Introduced |
X |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Virginia Wind Underwriting Association; wind insurance pool. Establishes the Virginia Wind Underwriting Association consisting of all insurers licensed to write property insurance in the Commonwealth. The Association is created to provide insurance against loss to property in Accomack and Northampton Counties and the Cities of Chesapeake, Hampton, Norfolk, and Virginia Beach from the risk of windstorm, in accordance with a plan of operation to be approved by the Commission. Amends § 38.2-1343 (“Minimum standards.”), § 38.2-1902 (“Scope of chapter.”), § 38.2-2001 (“Insurance to which chapter applies.”), § 38.2-2113 (“Mailing or electronic delivery of notice of cancellation or refusal to renew.”), § 38.2-2114 (“Grounds and procedure for termination of policy; contents of notice; review by Commissioner; exceptions; immunity from liability.”), § 38.2-602 (“Definitions.”), of the Code of Virginia. View Full Text »
