Code of Virginia § 38.2-1601. Application.
194 words·~1 min read·
/va/title-38-2/chapter-16/38-2-1601·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
This chapter shall apply to all classes of direct insurance written by member insurers but shall not be applicable to the following:
1. Life, annuity, health or disability insurance;
2. Mortgage guaranty, financial guaranty or other forms of insurance offering protection against investment risks;
3. Fidelity or surety bonds, or any other bonding obligations;
4. Credit insurance, credit property insurance, and credit involuntary unemployment insurance;
5. Insurance of warranties or service contracts;
6. Title insurance;
7. Insurance of vessels or craft used primarily in a trade or business, their cargoes, and marine builders' risk and marine protection and indemnity;
8. Any transaction or combination of transactions between a person, including affiliates of such person, and an insurer, including affiliates of such insurer, which involves the transfer of investment or credit risk unaccompanied by transfer of insurance risk; or
9. Any class of insurance written by cooperative nonprofit life benefit companies, mutual assessment life, accident and sickness insurers, burial societies, fraternal benefit societies, captive insurers, risk retention groups, and home protection companies.
1970, c. 766, § 38.1-758; 1986, c. 562; 1987, c. 529; 1993, cc. 77, 774; 1998, c. 230 ; 2000, c. 526 .