38.2-2700 - Purposes of chapter. - Virginia Statutes

§ 38.2-2700. Purposes of chapter.

The purposes of this chapter are:

1. To assure stability in the property insurance market of this Commonwealth;

2. To assure the availability of basic property insurance for qualifiedproperty;

3. To encourage maximum use of the voluntary insurance market provided bylicensed insurers in obtaining basic property insurance; and

4. To provide for the equitable distribution among licensed insurers of theresponsibility for insuring qualified property for which basic propertyinsurance cannot be obtained through the voluntary insurance market.

(1968, c. 559, § 38.1-746; 1986, c. 562.)