Any mutual assessment life, accident and sickness insurer may reinsure the whole or any part of its risks with any solvent insurer licensed in this Commonwealth or licensed in any other state having standards of solvency, at least equal to those required in this Commonwealth. However, the reinsurance shall be ceded without contingent liability on the part of the reinsured insurer. Any mutual assessment life, accident and sickness insurer having a surplus in excess of $800,000 may accept or assume reinsurance from any licensed insurer.
1985, c. 400, § 38.1-549.23; 1986, c. 562.
Structure Code of Virginia
Chapter 39 - Mutual Assessment Life, Accident and Sickness Insurers
§ 38.2-3903. What laws applicable
§ 38.2-3904. Conversion of mutual assessment life, accident and sickness insurers
§ 38.2-3905. Incorporation of companies
§ 38.2-3906. Licensing of additional companies prohibited
§ 38.2-3907. Directors; terms; annual meetings; voting; executive committee
§ 38.2-3909. Inspection of books and papers
§ 38.2-3910. Policy forms to be filed
§ 38.2-3911. Time limit on certain defenses
§ 38.2-3912. Incontestability of policies
§ 38.2-3913. Required grace periods
§ 38.2-3914. Policy to specify amount of payment and when to be paid
§ 38.2-3915. Assessment contract
§ 38.2-3916. Classification of risks; rates
§ 38.2-3917. Right to limit assessment liability; when contingent assessment liability waived
§ 38.2-3918. Notice of assessment; how given
§ 38.2-3919. Agents' licenses required
§ 38.2-3920. Surplus to policyowners