The purpose of this chapter is to establish an association that shall provide prompt payment of covered claims to reduce financial loss to claimants or policyholders resulting from the insolvency of an insurer. This association shall assist in the detection and prevention of insurer insolvencies and shall apportion the cost of this protection among insurers.
1970, c. 766, § 38.1-757; 1986, c. 562.
Structure Code of Virginia
Chapter 16 - Virginia Property and Casualty Insurance Guaranty Association
§ 38.2-1602. Liberal construction
§ 38.2-1604. Association created; members; divided into three accounts
§ 38.2-1605. Board of directors
§ 38.2-1606. Duties and powers of Association
§ 38.2-1607. Plan of operation
§ 38.2-1608. Duties and powers of Commission; judicial review
§ 38.2-1610. Exhaustion of remedies under policy; claims recoverable from more than one association
§ 38.2-1611. Aids in detection and prevention of insurer insolvencies
§ 38.2-1611.1. Tax write-offs of certificates of contribution
§ 38.2-1612. Examination and regulation of Association by Commission; annual financial report
§ 38.2-1613. Exemption from payment of fees and taxes
§ 38.2-1615. No liability for action taken in good faith
§ 38.2-1617. Termination of operation of Association; expiration of chapter
§ 38.2-1618. Purpose and applicability of article
§ 38.2-1620. Financing the safety fund, maximum amount, distribution of excess
§ 38.2-1621. Investment of safety fund