The purposes of this chapter are:
1. To assure stability in the property insurance market of this Commonwealth;
2. To assure the availability of basic property insurance for qualified property;
3. To encourage maximum use of the voluntary insurance market provided by licensed insurers in obtaining basic property insurance; and
4. To provide for the equitable distribution among licensed insurers of the responsibility for insuring qualified property for which basic property insurance cannot be obtained through the voluntary insurance market.
1968, c. 559, § 38.1-746; 1986, c. 562.
Structure Code of Virginia
Chapter 27 - Basic Property Insurance Residual Market Facility and Joint Underwriting Association
§ 38.2-2700. Purposes of chapter
§ 38.2-2702. Establishment of residual market facility
§ 38.2-2703. Rules, rates, policy forms and endorsements subject to the approval of Commission
§ 38.2-2704. Inspection of property
§ 38.2-2705. Operation of inspection service
§ 38.2-2706. Service of process
§ 38.2-2707. When Commission may order implementation of §§ 38.2-2708 and 38.2-2709
§ 38.2-2708. Creation and plan of operation of joint underwriting association
§ 38.2-2710. Supervision and regulation by Commission
§ 38.2-2711. Immunity from liability; reports, etc., not public documents
§ 38.2-2713. Obligations not to be impaired in event of repeal of chapter