38.2-2231 - Physical damage arbitration between insurers; alternate forums. - Virginia Statutes

§ 38.2-2231. Physical damage arbitration between insurers; alternate forums.

A. Except as otherwise provided hereafter, insurers shall arbitrate andsettle all disputed claims made for automobile physical damage between themin accordance with the terms of the Nationwide Intercompany ArbitrationAgreement, or any successor thereto, as adopted and from time to time amendedby its members, and the rules promulgated pursuant to the Agreement, unlessthe parties mutually agree, on a per case basis, to use another forum, whichforum may include a court of competent jurisdiction, in which case the claimshall be arbitrated or tried in that alternate forum. Mandatory arbitrationof disputed claims shall be limited solely to the issues of liability anddamages.

B. Every automobile liability or physical damage insurer doing business inthe Commonwealth shall be a member of the Nationwide Intercompany ArbitrationAgreement, or any successor thereto, sponsored by the Committee on InsuranceArbitration. However, if any such insurer is unable to furnish proof of itsmembership in such agreement, an action may be asserted in a court ofcompetent jurisdiction.

(1994, c. 346; 1999, c. 514.)