65.2-813.1 - Insurers offering policies with deductibles. - Virginia Statutes

§ 65.2-813.1. Insurers offering policies with deductibles.

Every insurer against liability arising under this title offering and makingavailable policies in which the insured pays a deductible, without regard toamount and including such policies with deductibles of $1,000 or less, shallprovide in such policies that (i) the insurer shall pay all of the deductibleamount applicable to a compensable claim under this title to the person orprovider entitled thereto, (ii) the insurer shall then obtain reimbursementfrom the policyholder for the applicable deductible amount, and (iii) failureto reimburse deductible amounts by the policyholder to the insurer willresult in the cancellation of the deductible endorsement.

(1995, c. 237.)