Virginia Law

Code of Virginia

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Code of Virginia
Title 46.2. Motor Vehicles
Chapter 3. Licensure of Drivers
2/28/2020

§ 46.2-466. Regulations for assignment, rate classifications, and schedules.

The Commission may make reasonable regulations for the assignment of risks to insurance carriers.

It shall establish rate classifications, rating schedules, rates, and regulations to be used by insurance carriers issuing assigned risk, policies of motor vehicle liability, physical damage, and medical payments insurance in accordance with this chapter as appear to it to be proper.

In the establishment of rate classifications, rating schedules, rates, and regulations, it shall be guided by the principles and practices which have been established under its statutory authority to regulate motor vehicle liability, physical damage, and medical payments insurance rates and it may act in conformity with its statutory discretionary authority in such matters.

Code 1950, § 46-487; 1958, c. 541, § 46.1-498; 1972, c. 842; 1989, c. 727.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.