Each policy issued following enactment of this provision during the two thousand five regular session, during the year following the effective date, shall display in a prominent location on the policy itself or on an insert included with each policy and provided to each policyholder, statements as following:
(1) "YOUR COSTS FOR THIS POLICY (HAVE/HAVE NOT) BEEN REDUCED BY (insert savings amount here) BECAUSE OF CIVIL JUSTICE REFORMS ENACTED BY THE WEST VIRGINIA LEGISLATURE IN 2005 AND SIGNED INTO LAW BY THE GOVERNOR"; and
(2) "YOUR COST FOR THIS POLICY HAS BEEN REDUCED BY (insert savings amount here) BECAUSE OF PREMIUM SURCHARGE REDUCTIONS ENACTED BY THE WEST VIRGINIA LEGISLATURE IN 2005 AND SIGNED INTO LAW BY THE GOVERNOR".
If the insurer did not offer the type of insurance provided by the policy in two thousand four, the requirement for these statements do not apply.
This section was amended twice.
This version passed subsequent to the additional enactment.
§33-6-15a. Notation of consumer cost savings.
Each policy issued following enactment of this provision during the two thousand five regular session, during the year following the effective date, shall display in a prominent location on the policy itself or on an insert included with each policy and provided to each policyholder, statements as following:
(1) "YOUR COSTS FOR THIS POLICY (HAVE/HAVE NOT) BEEN REDUCED BY (insert savings amount here) BECAUSE OF INSURANCE LAW REFORMS ENACTED BY THE WEST VIRGINIA LEGISLATURE IN 2005 AND SIGNED INTO LAW BY THE GOVERNOR".
If the insurer did not offer the type of insurance provided by the policy in two thousand four, the requirement for these statements do not apply.
Structure West Virginia Code
Article 6. The Insurance Policy
§33-6-3. Insurable Interest in Property
§33-6-4. Who May Contract for Insurance; Competency of Minors
§33-6-5. Application or Consent of Person Insured Required; Exceptions
§33-6-6. Application for Insurance as Evidence
§33-6-7. Representations in Applications
§33-6-9. Grounds for Disapproval of Forms
§33-6-11a. Right to Return Medicare Supplement Policy, Certificate or Contract
§33-6-11b. Right to Return Life or Accident and Sickness Insurance Policy, Certificate or Contract
§33-6-12. Additional Contents of Policy
§33-6-13. Policy Provisions as to Charter, Bylaws, or Other Documents
§33-6-14. Certain Policy Conditions, etc., Voided
§33-6-15. Execution of Policies
§33-6-15a. Notation of Consumer Cost Savings
§33-6-16. Underwriters' and Combination Policies
§33-6-17. Validity of Noncomplying Forms
§33-6-19. Renewal of Policy by Certificate or Endorsement
§33-6-20. Assignment of Policies
§33-6-21. Annulment of Liability Policies
§33-6-22. Payment Discharges Insurer
§33-6-26. Acts of Insurer Not Constituting Waiver of Policy Provisions or Defenses Thereunder
§33-6-27. Life Insurance Proceeds Exempt From Creditors
§33-6-28. Group Life Insurance Proceeds Exempt From Creditors
§33-6-30. Construction of Policies
§33-6-31a. Rates Charged for Uninsured Motorist Coverage
§33-6-31b. Nondiscriminatory Automobile Insurance Rates for Handicapped Persons
§33-6-31d. Form for Making Offer of Optional Uninsured and Underinsured Coverage
§33-6-31g. Electronic Insurance Verification Program; Insurer's Duty to Cooperate
§33-6-31h. Excluded Drivers; Definitions; Legislative Findings; Restrictive Endorsements
§33-6-32. Newly Born Children to Be Covered by All Health Insurance Policies
§33-6-33. Valuation of Motor Vehicle Involved in Claim
§33-6-34. Fee for Form, Rate, and Rule Filing
§33-6-35. Mass Marketed Life and Health Insurance
§33-6-38. Lyme Disease to Be Covered by All Health Insurance Policies