Virginia Administrative Code
Title 14 - INSURANCE
Agency 5 - STATE CORPORATION COMMISSION, BUREAU OF INSURANCE
Chapter 400 - RULES GOVERNING UNFAIR CLAIM SETTLEMENT PRACTICES
Section 14VAC5-400-90 - Claims settlement standards applicable to property policies
Universal Citation: 4 VA Admin Code 5-400-90
Current through Register Vol. 41, No. 3, September 23, 2024
When an insurer prepares an estimate of the cost of repairs to property, the estimate shall be an amount for which the damage may reasonably be expected to be satisfactorily repaired. The insurer shall give a copy of the estimate to the claimant.
Statutory Authority: §§ 12.1-13, 38.2-223, and 38.2-510 of the Code of Virginia.
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