West Virginia Code of State Rules
Agency 114 - Insurance Commission
Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER
Series 114-32 - Long-Term Care Insurance
Section 114-32-15 - Discretionary Powers of Commissioner
Universal Citation: 114 WV Code of State Rules 114-32-15
Current through Register Vol. XLI, No. 38, September 20, 2024
15.1. The Commissioner may upon written request and after an administrative hearing, issue an order to modify or suspend a specific provision or provisions of this rule with respect to a specific long-term care insurance policy or certificate upon a written finding that:
15.1.a. The modification or
suspension would be in the best interest of the insureds; and
15.1.b. The purposes to be achieved could not be
effectively or efficiently achieved without the modification or suspension;
and
15.1.c.
15.1.c.1. The modification or suspension is
necessary to the development of an innovative and reasonable approach for insuring
long-term care; or
15.1.c.2. The policy
or certificate is to be issued to residents of a life care or continuing care
retirement community or some other residential community for the elderly and the
modification or suspension is reasonably related to the special needs or nature of
such a community; or
15.1.c.3. The
modification or suspension is necessary to permit long-term care insurance to be
sold as part of, or in conjunction with, another insurance product.
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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