A. When a filing has been made with the Commission, the Commission shall determine whether publication of notice of the filing is necessary. If the Commission determines that such publication is required, the notice shall be published in the form and for the time prescribed by the Commission, not to exceed once a week for four consecutive weeks, in a newspaper or newspapers of general circulation published in the Commonwealth.
B. Prior to publication or upon completion of publication, the Commission shall determine whether a hearing should be held before acting upon the filing. If the Commission determines that a hearing should be held, it shall order one to be held within a reasonable time, but not less than ten days after issuing the order setting the hearing. The Commission shall notify the person making the filing and any other person it deems interested in the filing of the hearing.
C. Upon determination that publication of notice of a filing is unnecessary, upon completion of any required publication when no hearing is ordered, or upon completion of a hearing, the Commission shall (i) approve the filing as submitted or with any modifications deemed appropriate by the Commission, or (ii) disapprove the filing. If a filing is approved with modifications, or is disapproved, the order of such approval or disapproval shall state the reasons for the decision.
Code 1950, §§ 38-209, 38-253.28, 38-253.74; 1952, c. 317, § 38.1-254; 1986, c. 562.
Structure Code of Virginia
Chapter 20 - Regulation of Rates for Certain Types of Insurance
§ 38.2-2000. Purposes of chapter
§ 38.2-2001. Insurance to which chapter applies
§ 38.2-2002. Joint underwriting and joint reinsurance
§ 38.2-2002.1. Residual market mechanism; reinsurance pool
§ 38.2-2003. Rate filings by insurer; supporting information
§ 38.2-2004. Filings by rate service organization
§ 38.2-2005. Provisions governing making of rates
§ 38.2-2006. Approval by Commission prerequisite to use of filing
§ 38.2-2008. Review of rates by Commission
§ 38.2-2010. Suspension or modification of requirement for filing
§ 38.2-2011. Interchange of rating data and information
§ 38.2-2013. Excess rate for specific risk
§ 38.2-2014. Contract or policy to accord with filings
§ 38.2-2016. Information regarding rates to be furnished insured
§ 38.2-2017. No rule prohibiting or regulating payment of dividends, etc., to be adopted
§ 38.2-2018. Person aggrieved by application of rating system to be heard; appeal to Commission
§ 38.2-2020. Rate service organization may procure actuarial, technical or other services
§ 38.2-2021. Examination of policies or other evidences of insurance
§ 38.2-2022. Advisory organizations defined
§ 38.2-2023. What to be filed with Commission by advisory organization
§ 38.2-2024. Unfair acts or practices of advisory organization
§ 38.2-2027. Withholding information; giving false or misleading information