38.2-3501 - Policy forms; powers of Commission. - Virginia Statutes

§ 38.2-3501. Policy forms; powers of Commission.

Individual accident and sickness insurance policy forms and the rate manualsshowing rules and classification of risks applicable to individual accidentand sickness insurance policy forms shall be subject to the provisions of §38.2-316. The Commission, subject to § 38.2-316, may disapprove or withdrawapproval of any such policy form if it finds that the benefits provided inthe policy form are or are likely to be unreasonable in relation to thepremium charged. If the Commission disapproves a policy form or withdrawsapproval of a form, an insurer may proceed as indicated in § 38.2-1926.

(1979, c. 726, § 38.1-362.8; 1986, c. 562.)