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1999 SESSION

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HB 1465 Motor vehicle insurance; physical damage arbitration.

Introduced by: Clifton A. Woodrum | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Motor vehicle insurance; physical damage arbitration. Amends provisions in Virginia’s motor vehicle insurance laws concerning mandatory, inter-insurer physical damage arbitration as follows: (i) provides that insurers may, by mutual consent and in lieu of arbitration, agree to the trial of any dispute before a court of competent jurisdiction and (ii) authorizes actions to be asserted in courts of competent jurisdiction whenever an insurer is unable to establish proof of its membership in the Nationwide Intercompany Arbitration Agreement (or any successor thereto). Under current law, arbitration of automobile physical damage claims between insurers is mandatory, and all insurers are required to obtain membership in the Nationwide Intercompany Arbitration Agreement for that purpose.


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