§ 15.2-2703. Group self-insurance pools authorized.
A. Any political subdivision of this Commonwealth may, by contract with oneor more political subdivisions of this Commonwealth or of another state, forma group self-insurance pool to provide for joint or cooperative actionrelative to their financial and administrative resources for the purpose ofproviding to the participating political subdivisions risk managementservices as well as insurance coverage for pool members and employees of poolmembers, for acts or omissions arising out of the scope of their employment,including any or all of the following:
1. Casualty insurance, including workers' compensation under Title 65.2,employers' liability, general, professional and public officials liabilitycoverage;
2. Property insurance, including marine insurance and inland marine andtransportation insurance coverage;
3. Group life, accident and health coverages including hospital, medical,surgical and dental benefits to the employees of member politicalsubdivisions and their dependents;
4. Automobile insurance, including motor vehicle liability insurance coverageand collision and security for motor vehicles owned or operated, as requiredby Title 46.2, and protection against other liability and loss associatedwith the ownership and use of motor vehicles;
5. Surety and fidelity insurance coverage; and
6. Umbrella and excess insurance coverages.
B. A group self-insurance pool may obtain excess insurance or reinsurance ofrisks, and may cede and sell the risks for coverages set forth in thissection.
C. Member political subdivisions that join together for the purpose ofpooling their workers' compensation liabilities pursuant to Title 65.2 shallexecute a written agreement, which has been approved by the State CorporationCommission under which each member agrees to be jointly and severally liablefor the other members that are also party to such agreement. In addition tothe rights the pool may have under such agreements, in the event of failureof the pool to enforce such rights after reasonable notice to the pool, theState Corporation Commission shall have the right independently to enforce onbehalf of the pool the joint and several liability of its members under thistitle and the liability of members for any unpaid contributions andassessments. The State Corporation Commission shall be entitled to recoverits expenses and attorneys' fees. However, no such agreement to be jointlyand severally liable, nor membership in a group self-insurance pool asdefined in this section, shall relieve an employer of the liabilities imposedunder Title 65.2 with respect to its employees. Members of a groupself-insurance pool created pursuant to this title and licensed by the StateCorporation Commission shall not be jointly and severally liable for unpaidcontributions or assessments for any line of business other than workers'compensation offered by the group self-insurance pool.
D. Subject to the approval of the State Corporation Commission and with suchconditions as such Commission may require, a group self-insurance associationformed pursuant to § 65.2-802, consisting solely of political subdivisions,may merge with a group self-insurance pool if the group self-insurance poolassumes in full all obligations of such group self-insurance associationoriginally licensed pursuant to § 65.2-802.
(1986, cc. 520, 556, § 15.1-503.4:3; 1997, c. 587; 2009, cc. 285, 336.)
§ 15.2-2703. Group self-insurance pools authorized.
A. Any political subdivision of this Commonwealth may, by contract with oneor more political subdivisions of this Commonwealth or of another state, forma group self-insurance pool to provide for joint or cooperative actionrelative to their financial and administrative resources for the purpose ofproviding to the participating political subdivisions risk managementservices as well as insurance coverage for pool members and employees of poolmembers, for acts or omissions arising out of the scope of their employment,including any or all of the following:
1. Casualty insurance, including workers' compensation under Title 65.2,employers' liability, general, professional and public officials liabilitycoverage;
2. Property insurance, including marine insurance and inland marine andtransportation insurance coverage;
3. Group life, accident and health coverages including hospital, medical,surgical and dental benefits to the employees of member politicalsubdivisions and their dependents;
4. Automobile insurance, including motor vehicle liability insurance coverageand collision and security for motor vehicles owned or operated, as requiredby Title 46.2, and protection against other liability and loss associatedwith the ownership and use of motor vehicles;
5. Surety and fidelity insurance coverage; and
6. Umbrella and excess insurance coverages.
B. A group self-insurance pool may obtain excess insurance or reinsurance ofrisks, and may cede and sell the risks for coverages set forth in thissection.
C. Member political subdivisions that join together for the purpose ofpooling their workers' compensation liabilities pursuant to Title 65.2 shallexecute a written agreement, which has been approved by the State CorporationCommission under which each member agrees to be jointly and severally liablefor the other members that are also party to such agreement. In addition tothe rights the pool may have under such agreements, in the event of failureof the pool to enforce such rights after reasonable notice to the pool, theState Corporation Commission shall have the right independently to enforce onbehalf of the pool the joint and several liability of its members under thistitle and the liability of members for any unpaid contributions andassessments. The State Corporation Commission shall be entitled to recoverits expenses and attorneys' fees. However, no such agreement to be jointlyand severally liable, nor membership in a group self-insurance pool asdefined in this section, shall relieve an employer of the liabilities imposedunder Title 65.2 with respect to its employees. Members of a groupself-insurance pool created pursuant to this title and licensed by the StateCorporation Commission shall not be jointly and severally liable for unpaidcontributions or assessments for any line of business other than workers'compensation offered by the group self-insurance pool.
D. Subject to the approval of the State Corporation Commission and with suchconditions as such Commission may require, a group self-insurance associationformed pursuant to § 65.2-802, consisting solely of political subdivisions,may merge with a group self-insurance pool if the group self-insurance poolassumes in full all obligations of such group self-insurance associationoriginally licensed pursuant to § 65.2-802.
(1986, cc. 520, 556, § 15.1-503.4:3; 1997, c. 587; 2009, cc. 285, 336.)
§ 15.2-2703. Group self-insurance pools authorized.
A. Any political subdivision of this Commonwealth may, by contract with oneor more political subdivisions of this Commonwealth or of another state, forma group self-insurance pool to provide for joint or cooperative actionrelative to their financial and administrative resources for the purpose ofproviding to the participating political subdivisions risk managementservices as well as insurance coverage for pool members and employees of poolmembers, for acts or omissions arising out of the scope of their employment,including any or all of the following:
1. Casualty insurance, including workers' compensation under Title 65.2,employers' liability, general, professional and public officials liabilitycoverage;
2. Property insurance, including marine insurance and inland marine andtransportation insurance coverage;
3. Group life, accident and health coverages including hospital, medical,surgical and dental benefits to the employees of member politicalsubdivisions and their dependents;
4. Automobile insurance, including motor vehicle liability insurance coverageand collision and security for motor vehicles owned or operated, as requiredby Title 46.2, and protection against other liability and loss associatedwith the ownership and use of motor vehicles;
5. Surety and fidelity insurance coverage; and
6. Umbrella and excess insurance coverages.
B. A group self-insurance pool may obtain excess insurance or reinsurance ofrisks, and may cede and sell the risks for coverages set forth in thissection.
C. Member political subdivisions that join together for the purpose ofpooling their workers' compensation liabilities pursuant to Title 65.2 shallexecute a written agreement, which has been approved by the State CorporationCommission under which each member agrees to be jointly and severally liablefor the other members that are also party to such agreement. In addition tothe rights the pool may have under such agreements, in the event of failureof the pool to enforce such rights after reasonable notice to the pool, theState Corporation Commission shall have the right independently to enforce onbehalf of the pool the joint and several liability of its members under thistitle and the liability of members for any unpaid contributions andassessments. The State Corporation Commission shall be entitled to recoverits expenses and attorneys' fees. However, no such agreement to be jointlyand severally liable, nor membership in a group self-insurance pool asdefined in this section, shall relieve an employer of the liabilities imposedunder Title 65.2 with respect to its employees. Members of a groupself-insurance pool created pursuant to this title and licensed by the StateCorporation Commission shall not be jointly and severally liable for unpaidcontributions or assessments for any line of business other than workers'compensation offered by the group self-insurance pool.
D. Subject to the approval of the State Corporation Commission and with suchconditions as such Commission may require, a group self-insurance associationformed pursuant to § 65.2-802, consisting solely of political subdivisions,may merge with a group self-insurance pool if the group self-insurance poolassumes in full all obligations of such group self-insurance associationoriginally licensed pursuant to § 65.2-802.
(1986, cc. 520, 556, § 15.1-503.4:3; 1997, c. 587; 2009, cc. 285, 336.)
