West Virginia Code of State Rules
Agency 114 - Insurance Commission
Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER
Series 114-18 - Reg Relating To Supplemental Insurance Coverage For Continum Of Care Services For Elderly, Disabled And Terminally Ill
Section 114-18-4 - Approval of.Forms

Universal Citation: 114 WV Code of State Rules 114-18-4

Current through Register Vol. XLI, No. 38, September 20, 2024

4.01. Approval of Forms - No rider, endorsement or other form to"be attached to any insurance policy, contract or certificate to provide benefits for continuum of care services shall be delivered or issued for delivery in West Virginia unless it has been filed with and approved by the Insurance Commissioner of the State of West Virginia pursuant to the provisions of Chapter 33, Article 6, Section 8 of the Code of West Virginia of 1931, as amended, Section 5, Loss Ratio Standards

5.01. Aggregate Benefits - Supplemental insurance coverages for continuum of care services shall be expected to return to policyholders, subscribers or certificateholders in the form of aggregate benefits, on the basis of incurred claims experience , and earned premiums:

(A) In the case of individual insurance policies, contracts or certificates, at least sixty percent (60%) of the aggregate amount of premium collected; and,

(B) In the case of group insurance policies, contracts or certificates, at least seventy-five percent (75%) of the aggregate amount of premiums collected.

Disclaimer: These regulations may not be the most recent version. West Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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