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1994 SESSION

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CHAPTER 346 An Act to amend the Code of Virginia by adding in Chapter 22 of Title 38.2 a section numbered 38.2-2230, relating to motor vehicle insurance; physical damage arbitration between insurers. [H 883] Approved April 5, 1994

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding in Chapter 22 of Title 38.2 a section numbered 38.2-2230 as follows:

§ 38.2-2230. Physical damage arbitration between insurers.

Insurers shall arbitrate and settle all disputed claims made for automobile physical damage between them in accordance with the terms of the Nationwide Intercompany Arbitration Agreement as adopted and from time to time amended by its members, and the rules promulgated pursuant to the Agreement, unless the parties mutually agree, on a per case basis, to use another arbitration forum, in which case the claim shall be arbitrated in that alternate forum. Mandatory arbitration of disputed claims shall be limited solely to the issues of liability and damages. Every automobile liability or physical damage insurer doing business in the Commonwealth shall be a member of the Nationwide Intercompany Arbitration Agreement sponsored by the Committee on Insurance Arbitration.