Virginia Code 38.2-1837: Definitions
As used in this article:
Terms Used In Virginia Code 38.2-1837
- Attorney: means the person designated and authorized by subscribers as the attorney-in-fact having authority to obligate them on reciprocal insurance contracts. See Virginia Code 38.2-1201
- Business entity: means a partnership, limited partnership, limited liability company, corporation, or other legal entity other than a sole proprietorship. See Virginia Code 38.2-1800
- Insurance consultant: means any individual or business entity who acts as an independent contractor in relation to his client and for a fee or compensation, other than from an insurer or agent or surplus lines broker, advises or offers or purports to advise, as to life and health or property and casualty insurance, any person actively or prospectively insured. See Virginia Code 38.2-1837
- Insurer: means an insurance company. See Virginia Code 38.2-100
- Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
- Surplus lines broker: means a person licensed pursuant to Article 5. See Virginia Code 38.2-1800
“Insurance consultant” means any individual or business entity who acts as an independent contractor in relation to his client and for a fee or compensation, other than from an insurer or agent or surplus lines broker, advises or offers or purports to advise, as to life and health or property and casualty insurance, any person actively or prospectively insured. “Insurance consultant” shall not include:
1. Any licensed attorney acting in his professional capacity;
2. A trust officer of a bank acting in the normal course of his employment;
3. Any actuary or certified public accountant who consults during the normal course of his business; and
4. Any person employed as a risk manager and who consults for his employer only.
“Life and health insurance consultant” means an insurance consultant whose services are limited to insurance as defined in §§ 38.2-102 through 38.2-109 or health services as provided for in Chapters 42 (§ 38.2-4200 et seq.) and 43 (§ 38.2-4300 et seq.) of this title.
“Property and casualty insurance consultant” means an insurance consultant whose services are limited to insurance as defined in §§ 38.2-110 through 38.2-122 and 38.2-124 through 38.2-134.
1985, c. 3, § 38.1-327.62; 1986, c. 562; 1987, cc. 521, 678; 1992, c. 574; 2001, c. 706.