A. A licensed agent shall be held to be the agent of the insurer that issued the insurance sold, solicited, or negotiated by such agent in any controversy between the insured or his beneficiary and the insurer. No licensed agent or any other person shall claim to be a representative of, authorized agent of, agent of, or other term implying an appointed relationship with a particular insurer unless such agent has become an appointed agent of that insurer. For the purpose of notice of claim or suit, the agent or producer of record shall be deemed to be the agent of the insurer. In the case of policies of life insurance, accident and sickness insurance, annuities and variable annuities, such notice shall be given to the insurer at its home office as shown in the policy of insurance.
B. A premium payment made by an insured to an agent, whether appointed by an insurer or not, or to a surplus lines broker, where the insurer or its appointed agent acknowledged specific insurance for a specific policy period by the issuance of a policy, written binder, or other contract of temporary insurance, whether new or renewal, shall be considered payment to the insurer, and such insurer shall be liable to the insured for (i) any covered losses under the insurance and (ii) the return to the insured of any unearned premium amount due the insured except as provided in subsection D of § 38.2-1806.
C. Except as provided in subsection D of § 38.2-1806, where premiums for the issuance of a policy or endorsement have been financed by an insurance premium finance company and payment and evidence of financing for such policy or endorsement have been received by the insurer or its appointed agent, the insurer shall be liable for the return to the insurance premium finance company of any unearned premium due the insurance premium finance company.
Code 1950, § 38.1-292; 1952, c. 317; 1979, c. 513, § 38.1-327.2; 1986, c. 562; 1987, c. 521; 1988, c. 229; 1989, c. 543; 1993, c. 145; 2001, c. 706.
Structure Code of Virginia
§ 38.2-1800.1. Proof of residency
§ 38.2-1802. Acting as agent for unlicensed insurer prohibited; penalties
§ 38.2-1805. Acceptance by insurance agents of premiums in arrears; how advance premiums recorded
§ 38.2-1806. Interest with respect to credit extended or money lent for premiums on certain policies
§ 38.2-1808. All agreements to be expressed in contract
§ 38.2-1812. Payment and sharing of commissions
§ 38.2-1812.1. Placement of insurance for public bodies
§ 38.2-1812.2. Administrative charges in excess of premium prohibited; exceptions
§ 38.2-1813. Reporting and accounting for premiums
§ 38.2-1814.1. License required of resident title insurance agent
§ 38.2-1815. License required of resident life and annuities agent
§ 38.2-1815.1. License required of resident health agent
§ 38.2-1817. Examination for license; fee required; when fee forfeited
§ 38.2-1818. Individual moving from another state or Canadian province
§ 38.2-1819. Application for license; fee required; fingerprints
§ 38.2-1820. Issuance of license
§ 38.2-1821. Revocation, etc., of license revokes appointment
§ 38.2-1821.1. Exceptions to licensing
§ 38.2-1823. Penalty for acting for insurer, joint underwriting association, etc., when not licensed
§ 38.2-1824. Kinds of agents' licenses and appointments issued
§ 38.2-1825. Duration and termination of licenses and appointments
§ 38.2-1826. Requirement to report to Commission
§ 38.2-1827. Appointment may include one or more classes of insurance
§ 38.2-1828. Selling accident and sickness insurance
§ 38.2-1830. Temporary licenses and appointments; when issued
§ 38.2-1832. Refusal to issue and revocation of license; hearing; new application
§ 38.2-1833. Appointments of agents
§ 38.2-1834. Duration of appointment; annual renewal of agent's appointment
§ 38.2-1835. Failure to appoint
§ 38.2-1836. Licensing nonresidents; reciprocal agreements with other states and Canadian provinces
§ 38.2-1836.1. Authority of Commission to delegate certain functions
§ 38.2-1838. License required of consultants; fingerprinting
§ 38.2-1839. Contract required; placement of insurance for public bodies
§ 38.2-1841. Termination, suspension, or revocation of license
§ 38.2-1842. Requirement to report to Commission
§ 38.2-1844. Refusal to issue and revocation of license; hearing; new application
§ 38.2-1845. Licensing nonresidents; reciprocal agreements with other states and Canadian provinces
§ 38.2-1845.2. License required of resident public adjusters
§ 38.2-1845.3. Exemptions from article
§ 38.2-1845.6. Individual moving into the Commonwealth from another state or Canadian province
§ 38.2-1845.7. Refusal to issue; hearing; new application
§ 38.2-1845.8. Renewal application and fee; reinstatement; waiver
§ 38.2-1845.11. Termination, suspension, or revocation of license
§ 38.2-1845.12. Standards of conduct for public adjusters
§ 38.2-1845.13. Contract between public adjuster and insured
§ 38.2-1845.15. Record retention
§ 38.2-1845.16. Escrow or trust accounts
§ 38.2-1845.17. Requirement to report to Commission
§ 38.2-1845.18. Information security program
§ 38.2-1845.19. What laws applicable; rulemaking authority
§ 38.2-1845.20. Immunities; confidentiality
§ 38.2-1845.21. Authority of Commission to delegate certain functions
§ 38.2-1845.23. False information and advertising generally
§ 38.2-1857.2. Applications for surplus lines broker license; fee required; fingerprinting
§ 38.2-1857.4:1. Renewal application and fee; reinstatement; waiver
§ 38.2-1857.5. Requirement to report to Commission
§ 38.2-1857.6. Accepting and placing surplus lines business
§ 38.2-1857.8. Refusal to issue and revocation of license; hearing; new application
§ 38.2-1865.3. Refusal to issue and revocation of license; hearing; new application
§ 38.2-1865.5. Requirement to report to Commission
§ 38.2-1866. Continuing education requirements
§ 38.2-1867. Insurance continuing education board; approval of credits
§ 38.2-1868.1. Proof of compliance with continuing education requirements; waivers
§ 38.2-1869. Failure to satisfy requirements; termination of license
§ 38.2-1871. Licensees not subject to the continuing education requirements of this article
§ 38.2-1872. Administrative duties of Board; transfer to outside administrator
§ 38.2-1873. Continuing insurance education fees
§ 38.2-1874. Continuing education program; plan of operation; approval by Commission
§ 38.2-1876. Licensure of vendors
§ 38.2-1877. Requirements for sale of portable electronics insurance
§ 38.2-1878. Authority of vendors of portable electronics
§ 38.2-1879. Suspension or revocation of license
§ 38.2-1880. What laws applicable; rulemaking authority
§ 38.2-1882. Licensure of lessors
§ 38.2-1883. Requirements for sale of self storage insurance
§ 38.2-1884. Authority of lessors of self storage units
§ 38.2-1885. Suspension or revocation of license
§ 38.2-1886. What laws applicable; rulemaking authority
§ 38.2-1887. Application of article; definitions
§ 38.2-1888. Licensing and registration
§ 38.2-1888.1. Suspension, revocation, or termination of license
§ 38.2-1888.2. Travel protection plans
§ 38.2-1888.3. Sales practices
§ 38.2-1888.4. Travel administrators
§ 38.2-1888.5. Classification of travel insurance
§ 38.2-1889. Suspension, revocation, or termination of license