SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

1994 SESSION

  • | print version

SB 599 Workers' compensation; group self-insurance association.

Introduced by: Thomas K. Norment, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Workers' compensation; group self-insurance association. Permits the State Corporation Commission to include in its requirements and standards for the approval of a group self-insurance association, the accounting of such association's security deposits, bonds and excess insurance. The bill authorizes the SCC to require the purchase of excess insurance on the ceding of reinsurance on a specific or aggregate excess of loss basis as may be required under the circumstances. Under the bill, any group self-insurance association entering into a reinsurance transaction is deemed an insurer for purposes of the transaction and is subject to certain provisions of Chapter 13 of Title 38.2.


FULL TEXT

AMENDMENTS

HISTORY