Administrative Code

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Virginia Administrative Code
Title 14. Insurance
Agency 5. State Corporation Commission, Bureau of Insurance
Chapter 280. Rules Establishing Standards for Life, Annuity, and Accident and Sickness Reinsurance Agreements
6/26/2022

14VAC5-280-30. Scope.

This chapter shall apply to the life and health business of all domestic insurers and to the life and health business of all other licensed insurers who are not subject to substantially similar provisions in their states of domicile or entry.

This chapter shall not apply to assumption reinsurance, yearly renewable term reinsurance or certain nonproportional reinsurance such as stop loss or catastrophe reinsurance; however, nothing herein shall in any way limit or prevent the application of Article 3.1 (§ 38.2-1316.1 et seq.) of Chapter 13 or any other provision in Title 38.2 of the Code of Virginia to any type of insurer, business or reinsurance regardless of whether such application entails a standard or principle set forth in this chapter.

Statutory Authority

§§ 12.1-13 and 38.2-223 of the Code of Virginia.

Historical Notes

Derived from Regulation 41, Case No. INS910220, § 3, effective December 1, 1991; amended, Case No. INS940204, Virginia Register Volume 11, Issue 11, eff. April 1, 1995; Volume 30, Issue 1, eff. September 16, 2013.

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