The Commission may authorize the formation of a voluntary market assistance plan to assist in the individual placement of coverage for any lines, subclassifications, or types of commercial liability insurance. Such plan shall not be an insurer capable of assuming insurance risks.

Terms Used In Virginia Code 38.2-2900.1

  • Commercial liability insurance: means the commercial classes of insurance defined in §§ 38. See Virginia Code 38.2-2900
  • Commission: means the State Corporation Commission. See Virginia Code 38.2-100
  • Insurer: means an insurance company. See Virginia Code 38.2-100
  • Market assistance plan: means a voluntary association of insurers and insurance agents licensed to do business in the Commonwealth that is formed, pursuant to a plan of operation filed with and approved by the Commission, to assist with the individual placement of commercial liability insurance coverage that is not reasonably available on the voluntary market. See Virginia Code 38.2-2900

1988, cc. 769, 783.

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