14VAC5-130-10. Purpose.
The purposes of this chapter are to (i) implement procedures for the filing or filing and approval of rates for individual and group accident and sickness insurance policy forms and (ii) establish minimum loss ratios to assure that the benefits provided by such policy forms are or are anticipated to be reasonable in relation to the premiums charged.
Statutory Authority
§§ 12.1-13 and 38.2-223 of the Code of Virginia.
Historical Notes
Derived from Regulation 22, Case No. INS810039, § 2, eff. October 1, 1981; amended, Virginia Register Volume 29, Issue 20, eff. July 1, 2013; Volume 36, Issue 5, eff. January 1, 2020.
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