A. An insurer shall be exempt from any law of this Commonwealth which prohibits providing, or offering to provide, to a purchasing group or its members advantages based on their loss and expense experience not afforded to other persons with respect to rates, policy forms, coverages, or other matters.
B. Any insurer who transacts the business of insurance in this Commonwealth with a purchasing group or its members shall comply with the provisions of § 38.2-1024 and all other statutes in Title 38.2 which are applicable to licensed insurers, unless the insurer has received prior approval of the Commission to issue surplus lines insurance pursuant to Chapter 48 of this title.
1987, c. 585.
Structure Code of Virginia
Chapter 51 - Risk Retention Groups and Purchasing Groups
§ 38.2-5102. Risk retention groups chartered in this Commonwealth
§ 38.2-5103. Risk retention groups not chartered in this Commonwealth
§ 38.2-5107. Insurers; exemptions from certain laws relating to the group purchase of insurance
§ 38.2-5108. Notice and registration requirements of purchasing groups
§ 38.2-5109. Restrictions on insurance purchased by purchasing groups
§ 38.2-5110. Commission's authority regarding risk retention groups and purchasing groups
§ 38.2-5112. Duty on agents or brokers
§ 38.2-5113. Financial responsibility policy form or coverage requirements
§ 38.2-5114. Application of other state laws to persons or corporations
§ 38.2-5115. Binding effect of orders issued in U.S. District Court