Agency 5 - STATE CORPORATION COMMISSION, BUREAU OF INSURANCE

  1. Chapter 10 - ACCIDENT AIRTRIP INSURANCE (§ 14VAC5-10-10)
  2. Chapter 20 - VARIABLE CONTRACT REGULATIONS (Article I to VIII)
  3. Chapter 30 - RULES GOVERNING LIFE INSURANCE AND ANNUITY REPLACEMENTS (§ 14VAC5-30-10 to 14VAC5-30-100:1)
  4. Chapter 40 - RULES GOVERNING LIFE INSURANCE AND ANNUITY MARKETING PRACTICES [REPEALED] (§ 14VAC5-40-10 to 14VAC5-40-80)
  5. Chapter 41 - RULES GOVERNING ADVERTISEMENT OF LIFE INSURANCE AND ANNUITIES (§ 14VAC5-41-10 to 14VAC5-41-160)
  6. Chapter 43 - RULES GOVERNING USE OF SENIOR-SPECIFIC CERTIFICATIONS AND PROFESSIONAL DESIGNATIONS IN SALE OF LIFE OR ACCIDENT AND SICKNESS INSURANCE OR ANNUITIES (§ 14VAC5-43-10 to 14VAC5-43-30)
  7. Chapter 45 - RULES GOVERNING SUTAIBILITY IN ANNUITY TRANSACTIONS (§ 14VAC5-45-10 to 14VAC5-45-50)
  8. Chapter 50 - RULES GOVERNING NEW ANNUITY MORTALITY TABLES FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES (§ 14VAC5-50-10 to 14VAC5-50-50)
  9. Chapter 60 - RULES PERMITTING SMOKER/NONSMOKER MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS (§ 14VAC5-60-10 to 14VAC5-60-60)
  10. Chapter 70 - RULES GOVERNING ACCELERATED BENEFITS PROVISIONS (§ 14VAC5-70-10 to 14VAC5-70-150)
  11. Chapter 71 - RULES GOVERNING VIATICAL SETTLEMENT PROVIDERS AND VIATICAL SETTLEMENT BROKERS (§ 14VAC5-71-10 to 14VAC5-71-100)
  12. Chapter 80 - RULES GOVERNING VARIABLE LIFE INSURANCE (Article I to XII)
  13. Chapter 90 - RULES GOVERNING ADVERTISEMENT OF ACCIDENT AND SICKNESS INSURANCE (§ 14VAC5-90-10 to 14VAC5-90-180)
  14. Chapter 100 - [Repealed] (§ 14VAC5-100-10 to 14VAC5-100-80)
  15. Chapter 101 - RULES GOVERNING LIFE AND HEALTH FORMS FILINGS (§ 14VAC5-101-10 to 14VAC5-101-120)
  16. Chapter 110 - [Repealed] (§ 14VAC5-110-10 to 14VAC5-110-80)
  17. Chapter 120 - RULES GOVERNING THE IMPLEMENTATION OF THE INDIVIDUAL ACCIDENT AND SICKNESS INSURANCE MINIMUM STANDARDS ACT WITH RESPECT TO SPECIFIED DISEASE POLICIES (§ 14VAC5-120-10 to 14VAC5-120-100)
  18. Chapter 130 - RULES GOVERNING THE FILING OF RATES FOR INDIVIDUAL AND CERTAIN GROUP ACCIDENT AND SICKNESS INSURANCE POLICY FORMS (§ 14VAC5-130-10 to 14VAC5-130-100)
  19. Chapter 140 - RULES GOVERNING THE IMPLEMENTATION OF THE INDIVIDUAL ACCIDENT AND SICKNESS INSURANCE MINIMUM STANDARDS ACT (§ 14VAC5-140-10 to 14VAC5-140-100)
  20. Chapter 150 - CHAPTER 150 RULES TO IMPLEMENT TRANSITIONAL REQUIREMENTS FOR THE CONVERSION OF MEDICARE SUPPLEMENT INSURANCE BENEFITS AND PREMIUMS TO CONFORM TO MEDICARE PROGRAM REVISIONS (§ 14VAC5-150-10 to 14VAC5-150-80)
  21. Chapter 160 - RULES TO IMPLEMENT TRANSITIONAL REQUIREMENTS FOR THE CONVERSION OF MEDICARE SUPPLEMENT INSURANCE BENEFITS AND PREMIUMS TO CONFORM TO REPEAL OF THE MEDICARE CATASTROPHIC COVERAGE ACT (§ 14VAC5-160-10 to 14VAC5-160-110:1)
  22. Chapter 170 - RULES GOVERNING MINIMUM STANDARDS FOR MEDICARE SUPPLEMENT POLICIES (§ 14VAC5-170-10 to 14VAC5-170-220:4)
  23. Chapter 180 - RULES GOVERNING UNDERWRITING PRACTICES AND COVERAGE LIMITATIONS AND EXCLUSIONS FOR ACQUIRED IMMUNODEFICIENCY SYNDROME (AIDS) (§ 14VAC5-180-10 to 14VAC5-180-70)
  24. Chapter 190 - RULES GOVERNING THE REPORTING OF COST AND UTILIZATION DATA RELATING TO MANDATED BENEFITS AND MANDATED PROVIDERS (§ 14VAC5-190-10 to 14VAC5-190-80:2)
  25. Chapter 200 - RULES GOVERNING LONG-TERM CARE INSURENCE (§ 14VAC5-200-10 to 14VAC5-200-210)
  26. Chapter 210 - RULES GOVERNING HEALTH MAINTENANCE ORGANIZATIONS [REPEALED] (§ 14VAC5-210-10 to 14VAC5-210-150)
  27. Chapter 211 - RULES GOVERNING HEALTH MAINTENANCE ORGANIZATIONS (Part I to VI)
  28. Chapter 215 - RULES GOVERNING INDEPENDENT EXTERNAL REVIEW OF FINAL ADVERSE UTILIZATION REVIEW DECISIONS [REPEALED] (§ 14VAC5-215-10 to 14VAC5-215-130)
  29. Chapter 216 - RULES GOVERNING INTERNAL APPEAL AND EXTERNAL REVIEW (Part I to III)
  30. Chapter 220 - RULES GOVERNING PRIVATE REVIEW AGENTS [REPEALED] (§ 14VAC5-220-10 to 14VAC5-220-130)
  31. Chapter 230 - RULES GOVERNING CREDIT LIFE INSURANCE AND CREDIT ACCIDENT AND SICKNESS INSURANCE [REPEALED] (§ 14VAC5-230-10 to 14VAC5-230-110)
  32. Chapter 232 - [RESERVED] (§ 14VAC5-232-10)
  33. Chapter 234 - RULES GOVERNING ESSENTIAL AND STANDARD HEALTH BENEFIT PLAN CONTRACTS (§ 14VAC5-234-10 through 14VAC5-234-100)
  34. Chapter 240 - RULES AND REGULATIONS REGARDING PROXIES, CONSENTS AND AUTHORIZATIONS OF DOMESTIC STOCK INSURERS (§ 14VAC5-240-10 to 14VAC5-240-100:2)
  35. Chapter 250 - RULES, REGULATIONS AND FORMS RELATING TO RESTRICTIONS ON THE PURCHASE AND SALE OF EQUITY SECURITIES OF DOMESTIC STOCK INSURANCE COMPANIES (§ 14VAC5-250-10 to 14VAC5-250-240)
  36. Chapter 260 - RULES GOVERNING INSURANCE HOLDING COMPANIES (§ 14VAC5-260-10 to 14VAC5-260-110)
  37. Chapter 265 - RULES GOVERNING CORPORATE GOVERNANCE ANNUAL DISCLOSURES (§ 14VAC5-265-10 to 14VAC5-265-50)
  38. Chapter 270 - RULES GOVERNING ANNUAL FINANCIAL REPORTING (§ 14VAC5-270-10)
  39. Chapter 280 - RULES ESTABLISHING STANDARDS FOR LIFE, ANNUITY, AND ACCIDENT AND SICKNESS REINSURANCE AGREEMENTS (§ 14VAC5-280-10 to 14VAC5-280-70:2)
  40. Chapter 290 - RULES ESTABLISHING STANDARDS FOR COMPANIES DEEMED TO BE IN HAZARDOUS FINANCIAL CONDITION (§ 14VAC5-290-10 to 14VAC5-290-50)
  41. Chapter 300 - RULES GOVERNING CREDIT FOR REINSURANCE (§ 14VAC5-300-10)
  42. Chapter 310 - RULES GOVERNING ACTUARIAL OPINIONS AND MEMORANDA (§ 14VAC5-310-10 to 14VAC5-310-120)
  43. Chapter 318 - RULES GOVERNING TERM AND UNIVERSAL LIFE INSURANCE RESERVE FINANCING (§ 14VAC5-318-10 to 14VAC5-318-80)
  44. Chapter 319 - LIFE INSURANCE RESERVES (§ 14VAC5-319-10 to 14VAC5-319-80)
  45. Chapter 320 - RULES ESTABLISHING MINIMUM RESERVE STANDARDS FOR INDIVIDUAL AND GROUP ACCIDENT AND SICKNESS INSURANCE CONTRACTS (§ 14VAC5-320-10 to 14VAC5-320-70:3)
  46. Chapter 321 - USE OF THE 2001 CSO MORTALITY TABLE IN DETERMINING RESERVE LIABILITIES AND NONFORFEITURE BENEFITS (§ 14VAC5-321-10)
  47. Chapter 322 - USE OF THE 2001 CSO PREFERRED CLASS STRUCTURE MORTALITY TABLE IN DETERMINING RESERVE LIABILITIES (§ 14VAC5-322-10)
  48. Chapter 323 - RULES GOVERNING PRENEED LIFE INSURANCE MINIMUM STANDARDS FOR DETERMINING RESERVE LIABILITIES AND NONFORFEITURE VALUES (§ 14VAC5-323-10 to 14VAC5-323-70)
  49. Chapter 330 - REPORTING OF SALVAGE AND SUBROGATION RECOVERIES [REPEALED] (§ 14VAC5-330-10)
  50. Chapter 335 - RULES GOVERNING CLAIMS-MADE LIABILITY INSURANCE POLICIES (§ 14VAC5-335-10 to 14VAC5-335-60)
  51. Chapter 340 - [Repealed] (§ 14VAC5-340-10 to 14VAC5-340-150:9)
  52. Chapter 341 - RULES GOVERNING STANDARDS FOR THE CONTENT OF DWELLING PROPERTY INSURANCE POLICIES (§ 14VAC5-341-10 to 14VAC5-341-90)
  53. Chapter 342 - RULES GOVERNING STANDARDS FOR THE CONTENT OF HOMEOWNERS INSURANCE POLICIES (§ 14VAC5-342-10 to 14VAC5-342-130)
  54. Chapter 345 - RULES GOVERNING RATE STABILIZATION IN PROPERTY AND CASUALTY INSURANCE (§ 14VAC5-345-10 to 14VAC5-345-70)
  55. Chapter 350 - RULES GOVERNING SURPLUS LINES INSURANCE [REPEALED] (§ 14VAC5-350-10 to 14VAC5-350-230)
  56. Chapter 360 - RULES GOVERNING LOCAL GOVERNMENT GROUP SELF-INSURANCE POOLS (§ 14VAC5-360-10 to 14VAC5-360-190)
  57. Chapter 370 - RULES GOVERNING GROUP SELF-INSURERS OF LIABILITY UNDER THE VIRGINIA WORKERS' COMPENSATION ACT (§ 14VAC5-370-10 to 14VAC5-370-180)
  58. Chapter 380 - RULES GOVERNING UNDERGROUND STORAGE TANK OWNERS AND OPERATORS GROUP SELF-INSURANCE POOLS (§ 14VAC5-380-10 to 14VAC5-380-150)
  59. Chapter 385 - RULES GOVERNING ABOVEGROUND STORAGE TANK AND PIPELINE OPERATORS GROUP SELF-INSURANCE POOLS (§ 14VAC5-385-10 to 14VAC5-385-150)
  60. Chapter 390 - RULES GOVERNING INSURANCE PREMIUM FINANCE COMPANIES (§ 14VAC5-390-10 to 14VAC5-390-70)
  61. Chapter 395 - RULES GOVERNING SETTLEMENT AGENTS (§ 14VAC5-395-10)
  62. Chapter 400 - RULES GOVERNING UNFAIR CLAIM SETTLEMENT PRACTICES (§ 14VAC5-400-10 to 14VAC5-400-110)
  63. Chapter 402 - [RESERVED] (§ 14VAC5-402-10)
  64. Chapter 405 - RULES GOVERNING BALANCE BILLING FOR OUT-OF-NETWORK HEALTH CARE SERVICES (§ 14VAC5-405-10 to 14VAC5-405-90)
  65. Chapter 410 - RULES GOVERNING MULTIPLE EMPLOYER WELFARE ARRANGEMENTS (§ 14VAC5-410-10 to 14VAC5-410-80)
  66. Chapter 420 - RULES GOVERNING MILITARY SALES PRACTICES (§ 14VAC5-420-10)
  67. Chapter 430 - INSURANCE DATA SECURITY RISK ASSESSMENT AND REPORTING (§ 14VAC5-430-10)

The Commission is vested with supervision of all companies transacting the business of insurance and execution of all laws respecting insurance. Title 38.2, Chapter 2. It is authorized to license insurance companies; captive insurers; reciprocals; surety companies; mutual assessment property and casualty insurers; home protection companies; cooperative nonprofit life benefit companies; mutual assessment life, health, and sickness insurers; burial societies; insurance agents; surplus lines brokers; insurance consultants; managing general agents; reinsurance intermediaries; insurance premium finance companies; fraternal benefit societies and their agents; rate service organizations; and persons soliciting subscriptions for an insurance company in process of organization and to register insurer members of insurance holding companies. Certain insurance agents are required to furnish to the Commission evidence that the continuing education requirements prescribed by statute are met, and the Commission is authorized to approve a plan of operation for the insurance continuing education advisory board. Id., Chapters 10, 11, 12, 13, 18, 19, 20, 24, 25, 26, 38, 39, 40, 41, 46, 47 and 48. It may also license plans for health services, prepaid legal services, and dental and optometric services. Id., Chapters 42, 44, 45, and 61. It may license health maintenance organizations. Id., Chapter 43.

The Commission regulates Medicare supplement policies. Id., Chapter 36. It may register continuing care providers. Id., Chapter 49. It is authorized to approve a plan of operation for the Virginia Birth-Related Neurological Injury Compensation Fund. Id., Chapter 50. It is charged with administration of risk retention groups and purchasing groups. Id., Chapter 51. The Commission may adopt regulations to establish specific standards for policy provisions of long-term care insurance policies. Id., Chapter 52. The Commission may license automobile clubs. Title 13.1, Chapter 3.1. It is authorized to administer statutory requirements and restrictions respecting insurance companies corporate structure, reporting, securities, capital, reserves, reinsurance, investments, and statutes prohibiting unfair trade practices by insurers or relating to insurance. Title 38.2, Chapters 5, 6, 10, 11, 12, 13, 14, 26 and 46. It may approve forms for insurance policies, contracts, certificates, application endorsements, riders, and forms for premium finance agreements, may prescribe standard forms for motor vehicle insurance, and may establish guidelines and standards for readability of fire and automobile insurance policies, standards for the content of fire insurance policies, and standards for coverages and terms of life insurance, annuity, accident and sickness, credit life and credit accident and sickness insurance policies. Id., Chapters 3, 21, 22, 33, 34, 35, 36, 37.1, 43 and 47. Rates and rating schedules for certain types of insurance are subject to advance approval by the Commission; for other types, advance filing is required, subject to its disapproval. Id., Chapters 3, 19, 20, and 37.1. The Commission may assign risks for motor vehicle liability and workers compensation insurance- and fix rates for such assigned risk policies. Title 46.2, Chapter 3, Art. 16; Title 65.2, Chapter 8. It may also approve and supervise industry plans for distribution of risks as to certain fire and extended property insurance, or establish joint underwriting associations for compulsory distribution. Title 38.2, Chapter 27. It may fix maximum interest rates and service charges of insurance premium finance companies. Id., Chapter 47. It may review the application of a rating system to an insured by an insurer or rating organization and the cancellation of, refusal to renew, or points charged under, a motor vehicle liability policy. Id., Chapters 2, 19, 20 and 22. It is also vested with supervision of the Virginia Life, Accident and Sickness Insurance Guaranty Association, created by statute to enable guaranty of payment of benefits and continuation of coverages in event of insurers impairment or insolvency (Id., Chapter 17) and of the Virginia Property and Casualty Insurance Guaranty Association, created by statute to handle claims against insolvent carriers of property and casualty insurance (Id., Chapter 16). It may also activate a commercial liability insurance joint underwriting association. Id., Chapter 29. In addition, the Commission has promulgated regulations governing insurers practices with regard to Acquired Immunodeficiency Syndrome or the presence of the Human Immunodeficiency Virus. Id., Chapters 31 and 34. The Commission is authorized to promulgate such regulations as may be necessary or appropriate to ensure that applicants for life or accident and sickness insurance coverage or for modifications to existing coverage are notified of test results whenever insurers require such applicants to submit to testing for Human Immunodeficiency Viruses (HIV). Id., Chapter 6. For purposes of the insurance statutes, the Commission may require reports, inspect records, make examinations, and order discontinuance of unlawful acts or the taking of affirmative action to achieve compliance, and its approval is required for a variety of transactions. It is further authorized to make general or special exemptions from and to suspend or vary numerous provisions in Title 38.2 of the Code of Virginia. The Commission has authority, along with the Department of Taxation, to amend the Medical Savings Account Plan to the Virginia Health Savings Account Plan. Title 38.2, Chapter 56.

The Office of the Managed Care Ombudsman responds to inquiries and questions from consumers and other individuals and can formally assist consumers appeal a denial issued by a Managed Care Health Insurance Plan (MCHIP). Title 38.2, Chapters 58 and 59. A covered person or treating health care provider may ask the Bureau of Insurance for an External Review of a final adverse decision concerning a denied health service in accordance with regulations promulgated by the Commission. Title 38.2, Chapters 35.1 and 59.

The Commission is authorized to promulgate rules and regulations as it may deem necessary to implement the Viatical Settlements Act, Code of Virginia, Title 38.2, Chapter 60. The Commission is authorized to issue, deny, suspend, or revoke a license of any viatical settlement provider or broker. Id., Chapter 60.

The Commonwealth of Virginia is authorized to enter into the Interstate Insurance Product Regulation Compact. Title 38.2, Chapter 62. Chapter 63 directs that a health care sharing ministry is not insurance for purposes of this title. Title 38.2, Chapter 63. The Commission is authorized jointly with the Virginia Workers Compensation Commission to prescribe minimum standards of service for insurers writing workers compensation policies. Title 65.2, Chapter 8. Regulations under this provision are listed under the Virginia Workers Compensation Commission. The State Corporation Commission is authorized to license group associations of employers for workers compensation purposes and to establish standards therefor. Ibid.

The Commission is also responsible for assessment and collection of annual fees and license taxes imposed on insurance companies, measured by premium income. Companies are required to file returns and declarations of estimated tax, and the Commission may order refunds or additions and review and correct erroneous assessments. Title 38.2, Chapter 4; Title 58.1, Chapters 20 and 25.

The Commission has the authority to issue rules and regulations for the administration and enforcement of Title 38.2. Title 38.2, Chapter 2.Chapters 20 and 25.

Rev. 9/2012

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