38.2-1601 - Application. - Virginia Statutes

§ 38.2-1601. Application.

This chapter shall apply to all classes of direct insurance written by memberinsurers but shall not be applicable to the following:

1. Life, annuity, health or disability insurance;

2. Mortgage guaranty, financial guaranty or other forms of insurance offeringprotection against investment risks;

3. Fidelity or surety bonds, or any other bonding obligations;

4. Credit insurance, credit property insurance, and credit involuntaryunemployment insurance;

5. Insurance of warranties or service contracts;

6. Title insurance;

7. Insurance of vessels or craft used primarily in a trade or business, theircargoes, and marine builders' risk and marine protection and indemnity;

8. Any transaction or combination of transactions between a person, includingaffiliates of such person, and an insurer, including affiliates of suchinsurer, which involves the transfer of investment or credit riskunaccompanied by transfer of insurance risk; or

9. Any class of insurance written by cooperative nonprofit life benefitcompanies, mutual assessment life, accident and sickness insurers, burialsocieties, fraternal benefit societies, captive insurers, risk retentiongroups, and home protection companies.

(1970, c. 766, § 38.1-758; 1986, c. 562; 1987, c. 529; 1993, cc. 77, 774;1998, c. 230; 2000, c. 526.)