Virginia Code 65.2-813.1: Insurers offering policies with deductibles
Current as of: 2023 | Check for updates
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Every insurer against liability arising under this title offering and making available policies in which the insured pays a deductible, without regard to amount and including such policies with deductibles of $1,000 or less, shall provide in such policies that (i) the insurer shall pay all of the deductible amount applicable to a compensable claim under this title to the person or provider entitled thereto, (ii) the insurer shall then obtain reimbursement from the policyholder for the applicable deductible amount, and (iii) failure to reimburse deductible amounts by the policyholder to the insurer will result in the cancellation of the deductible endorsement.
Terms Used In Virginia Code 65.2-813.1
- Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
1995, c. 237.