Virginia Administrative Code
Title 14 - INSURANCE
Agency 5 - STATE CORPORATION COMMISSION, BUREAU OF INSURANCE
Chapter 280 - RULES ESTABLISHING STANDARDS FOR LIFE, ANNUITY, AND ACCIDENT AND SICKNESS REINSURANCE AGREEMENTS
Section 14VAC5-280-10 - Definitions
Current through Register Vol. 41, No. 3, September 23, 2024
The following words and terms, when used in this chapter, shall have the following meaning unless the context clearly indicates otherwise:
"Commission" means State Corporation Commission.
"Insurer" means a cooperative nonprofit life benefit company, a mutual assessment life, accident and sickness insurer, a fraternal benefit society, a health services plan, a dental services plan, or an optometric services plan licensed under Title 38.2 of the Code of Virginia; and also any insurance company, whether known as a life and health insurer, a property and casualty insurer, or a reciprocal, which is licensed in Virginia and authorized to write any class of life insurance, annuities, or accident and sickness insurance.
"Life and health business" means
(i) a class of insurance defined by §§ 38.2-102 through 38.2-109 of the Code of Virginia or
(ii) any product or service sold or offered by a person organized and licensed in Virginia under Chapter 38 (§ 38.2-3800 et seq., cooperative nonprofit life benefit companies), Chapter 39 (§ 38.2-3900 et seq., mutual assessment life, accident and sickness insurers), Chapter 41 (§ 38.2-4100 et seq., fraternal benefit societies), Chapter 42 (§ 38.2-4200 et seq., health services plans), Chapter 43 (§ 38.2-4300 et seq., health maintenance organizations), or Chapter 45 (§ 38.2-4500 et seq., dental or optometric services plans) of Title 38.2 of the Code of Virginia.
Statutory Authority
§§ 12.1-13 and 38.2-223 of the Code of Virginia.
12.1-13 and 38.2-223
