38.2-3732 - Insurer delegation of duties. - Virginia Statutes

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Statutes > Virginia > Title-38-2 > Chapter-37-1 > 38-2-3732

§ 38.2-3732. Insurer delegation of duties.

Any insurer that delegates to a creditor any of its duties under the laws ofthis Commonwealth or the regulations of this Commission shall be responsibleto see that such creditor discharges such duties in accordance with said lawsand regulations. A finding by the Commission that either the insurer or itsdelegee has failed to comply with such requirements shall subject the insurerand creditor to any and all disciplinary actions authorized under this title.Such responsibility shall include but not be limited to a determination that:

1. Proper insurance rates are being charged by the creditor;

2. Proper refunds are being made;

3. Claims are being filed and properly handled;

4. Amounts of insurance payable on death in excess of the amounts necessaryto discharge indebtedness are properly distributed; and

5. The creditor is promptly and fairly processing complaints concerning itscredit insurance operations and is maintaining proper procedures for andrecords of complaints processed.

(1992, c. 586.)

State Codes and Statutes

Statutes > Virginia > Title-38-2 > Chapter-37-1 > 38-2-3732

§ 38.2-3732. Insurer delegation of duties.

Any insurer that delegates to a creditor any of its duties under the laws ofthis Commonwealth or the regulations of this Commission shall be responsibleto see that such creditor discharges such duties in accordance with said lawsand regulations. A finding by the Commission that either the insurer or itsdelegee has failed to comply with such requirements shall subject the insurerand creditor to any and all disciplinary actions authorized under this title.Such responsibility shall include but not be limited to a determination that:

1. Proper insurance rates are being charged by the creditor;

2. Proper refunds are being made;

3. Claims are being filed and properly handled;

4. Amounts of insurance payable on death in excess of the amounts necessaryto discharge indebtedness are properly distributed; and

5. The creditor is promptly and fairly processing complaints concerning itscredit insurance operations and is maintaining proper procedures for andrecords of complaints processed.

(1992, c. 586.)

State Codes and Statutes

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State Codes and Statutes

Statutes > Virginia > Title-38-2 > Chapter-37-1 > 38-2-3732

§ 38.2-3732. Insurer delegation of duties.

Any insurer that delegates to a creditor any of its duties under the laws ofthis Commonwealth or the regulations of this Commission shall be responsibleto see that such creditor discharges such duties in accordance with said lawsand regulations. A finding by the Commission that either the insurer or itsdelegee has failed to comply with such requirements shall subject the insurerand creditor to any and all disciplinary actions authorized under this title.Such responsibility shall include but not be limited to a determination that:

1. Proper insurance rates are being charged by the creditor;

2. Proper refunds are being made;

3. Claims are being filed and properly handled;

4. Amounts of insurance payable on death in excess of the amounts necessaryto discharge indebtedness are properly distributed; and

5. The creditor is promptly and fairly processing complaints concerning itscredit insurance operations and is maintaining proper procedures for andrecords of complaints processed.

(1992, c. 586.)