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2002 SESSION

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SB 690 Property & Casualty Ins. Guaranty Association; payment of claims.

Introduced by: Frank W. Wagner | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Property and Casualty Insurance Guaranty Association; payment of claims. Provides that the Property and Casualty Insurance Guaranty Association shall pay to a claimant the full amount of a covered claim for benefits arising out of a policy providing coverage to the Virginia Commonwealth University Health System Authority, the Eastern Virginia Medical School or the University of Virginia Medical Center. These medical schools are also excluded from the provision that makes entities with one-half million dollars in net worth ineligible to recover funds from the Association. The bill is effective retroactive to September 1, 2001, and has an emergency clause.


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