38.2-2107 - Commission may establish guidelines for filing readable fire insurance policy forms. - Virginia Statutes

§ 38.2-2107. Commission may establish guidelines for filing readable fireinsurance policy forms.

A. The Commission may establish guidelines for the filing of simplified andreadable policies of insurance. An insurer may issue a simplified andreadable policy of insurance that deviates in language from the standardpolicy form provided for in §§ 38.2-2104, 38.2-2105 and 38.2-2106 if thedeviating policy form is (i) in no respect less favorable to the insured thanthe standard policy form, and is (ii) approved by the Commission prior toissuance.

B. Notwithstanding the pro rata liability provision included in § 38.2-2105,such simplified and readable policies may be issued to apply on an excess orprimary basis if such provisions are clearly stated in the policy form andthe policy is identified in its title or heading as an excess or primaryinsurance policy.

(1977, c. 255, § 38.1-367.1; 1979, c. 176; 1986, c. 562; 2003, c. 930.)