A. There shall be no liability on the part of, and no cause of action shall arise against any insurer, any inspection service, the residual market facility, the joint underwriting association, or their directors, governing committee members, officers, agents or employees, or the Commission or its authorized representatives, for any action taken by them in good faith in the performance of their powers and duties under this chapter, nor for any inspections undertaken or statements made by them (i) in any reports and communications concerning the property insured or to be insured, (ii) at the time of the hearings conducted in connection with the property insured or to be insured, or (iii) in the findings required by this chapter.

Terms Used In Virginia Code 38.2-2711

  • Commission: means the State Corporation Commission. See Virginia Code 38.2-100
  • Inspection service: means any organization designated or approved by the Commission to determine the insurability and conditions of the properties for which basic property insurance is sought. See Virginia Code 38.2-2701
  • Insurer: means an insurance company. See Virginia Code 38.2-100
  • Residual market facility: means any organization approved by the Commission to equitably distribute the responsibility to provide basic property insurance on qualified property among insurers licensed to write basic property insurance or other insurance containing a basic property insurance component. See Virginia Code 38.2-2701

B. The reports and communications of an inspection bureau service, the residual market facility, and the joint underwriting association shall not be public documents.

1968, c. 559, § 38.1-753; 1985, c. 401; 1986, c. 562.

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