38.2-5107 - Insurers; exemptions from certain laws relating to the group purchase of insurance. - Virginia Statutes

§ 38.2-5107. Insurers; exemptions from certain laws relating to the grouppurchase of insurance.

A. An insurer shall be exempt from any law of this Commonwealth whichprohibits providing, or offering to provide, to a purchasing group or itsmembers advantages based on their loss and expense experience not afforded toother persons with respect to rates, policy forms, coverages, or othermatters.

B. Any insurer who transacts the business of insurance in this Commonwealthwith a purchasing group or its members shall comply with the provisions of §38.2-1024 and all other statutes in Title 38.2 which are applicable tolicensed insurers, unless the insurer has received prior approval of theCommission to issue surplus lines insurance pursuant to Chapter 48 of thistitle.

(1987, c. 585.)