§ 38.2-515.1 — Power of Commission; policies issued outside of the Commonwealth

Virginia § 38.2-515.1

• Jurisdiction: Virginia
• Title 38.2: Insurance
• Ch. 5: Unfair Trade Practices

Text

A. Notwithstanding any other provision of law to the contrary, the Commission shall have the power to assist consumers and to examine and investigate complaints and inquiries relating to trade practices and claim settlement practices of insurers involving policies issued outside of the Commonwealth but covering residents of the Commonwealth, provided that the policy was issued (i) as a policy of group accident and sickness insurance in accordance with § 38.2-3521.1 or (ii) to a group other than one described in § 38.2-3521.1 in compliance with the requirements of § 38.2-3522.1.

B. The Commission's investigatory powers with respect to residents of the Commonwealth are limited to assisting consumers and examining and investigating complaints and inquiries as provided in subsection A and shall not extend to applying or enforcing federal laws or the laws of another state or jurisdiction.

C. The Commission shall have no jurisdiction to adjudicate controversies arising out of this section.

Legislative History

2018, c. 256.