38.2-514 - Failure to make disclosure. - Virginia Statutes

§ 38.2-514. Failure to make disclosure.

A. No person shall sell, solicit, or negotiate the sale of an annuity, a lifeinsurance policy or an accident and sickness insurance policy withoutfurnishing the disclosure information required by any rules and regulationsof the Commission.

B. No person shall provide to an insured, claimant, subscriber or enrolleeunder an accident and sickness insurance policy, subscription contract, orhealth maintenance organization contract, an explanation of benefits whichdoes not clearly and accurately disclose the method of benefit calculationand the actual amount which has been or will be paid to the provider ofservices.

(Code 1950, § 38.1-52; 1952, c. 317, § 38.1-52.13; 1977, c. 529; 1978, c.441; 1979, c. 324; 1980, c. 404; 1986, c. 562; 1991, c. 620; 1992, c. 7;1994, c. 320; 2001, cc. 371, 706.)