Virginia § 38.2-3732 Insurer delegation of duties

Virginia Statutes

§ 38.2-3732 — Insurer delegation of duties

Virginia § 38.2-3732

Title 38.2INSURANCE

Ch. 37.1CREDIT LIFE INSURANCE AND CREDIT ACCIDENT AND SICKNESS INSURANCE

This text of Virginia § 38.2-3732 (Insurer delegation of duties) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 38.2-3732 (2026).

Text

Any insurer that delegates to a creditor any of its duties under the laws of this Commonwealth or the regulations of this Commission shall be responsible to see that such creditor discharges such duties in accordance with said laws and regulations. A finding by the Commission that either the insurer or its delegee has failed to comply with such requirements shall subject the insurer and creditor to any and all disciplinary actions authorized under this title. Such responsibility shall include but not be limited to a determination that:

1.Proper insurance rates are being charged by the creditor;

2.Proper refunds are being made;

3.Claims are being filed and properly handled;

4.Amounts of insurance payable on death in excess of the amounts necessary to discharge indebtedness are prope

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Any insurer that delegates to a creditor any of its duties under the laws of this Commonwealth or the regulations of this Commission shall be responsible to see that such creditor discharges such duties in accordance with said laws and regulations. A finding by the Commission that either the insurer or its delegee has failed to comply with such requirements shall subject the insurer and creditor to any and all disciplinary actions authorized under this title. Such responsibility shall include but not be limited to a determination that:

1. Proper insurance rates are being charged by the creditor;

2. Proper refunds are being made;

3. Claims are being filed and properly handled;

4. Amounts of insurance payable on death in excess of the amounts necessary to discharge indebtedness are properly distributed; and

5. The creditor is promptly and fairly processing complaints concerning its credit insurance operations and is maintaining proper procedures for and records of complaints processed.