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2004 Summary of New State Laws - Virginia
Issue |
Bill # |
Bill Description |
CLUE |
Prohibits an insurer from refusing to renew a homeowners insurance policy solely due to a claim or claims that were incurred more than 60 months before the expiration of the current policy period. Effective 3/31/04. Chapter 300, Laws of 2004. |
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Miscellaneous New Insurance Provisions |
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(Definition of Casualty Insurance) |
Clarifies the definition of miscellaneous casualty insurance as coverage against liability, loss, damage or expense arising from an injury to someone's economic interests. Effective 3/19/04. Chapter 182, Laws of 2004. |
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(Farmer's Insurance) |
Recongnizes the need for and encourages the purchase of adjusted gross revenue insurance for farmers. Effective 3/10/04. |
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(Homeowners Coverage) |
Allows insurers to exclude liability for dangerous animals and attractive nuisances. Effective 4/12/04. Chapter 751, Laws of 2004. |
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(Landlord/Tenant Coverage) |
Allows a landlord to name a tenant a "co-insured" on the landlord's property and casualty insurance and further clarifies damage insurance and renters insurance as well as landlord limitations related thereto. Effective 3/15/04. Chapter 123, Laws of 2004. |
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Mold |
Requires landlord disclosure to prospective tenants about visible evidence of mold in a dwelling. If the landlord reports no evidence of mold, and the tenant finds otherwise, the tenant can object in writing within five days. If the landlord reports visible evidence of mold, the tenant has the option of terminating the tenancy or accepting the unit in an 'as is' condition. Effective 3/29/04. Chapter 226, Laws of 2004. |
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Regulation |
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(Notification Requirements) |
Requires that any insurer issuing fire insurance policies that exclude coverage for flood damage to provide written notification to that effect along with additional information sources about flood insurance as well as an advisory that contents coverage may be available through a flood policy issued for an additional premium. Effective 3/31/04. Chapter 288, Laws of 2004. |
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Rate Regulation |
Clarifies that an insurer may file rate or supplementary rate information to limit renewal policy rate increases that would otherwise apply. Effective 7/1/04. Chapter838, Laws of 2004. |
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State Regulator Authority |
Authorizes the Department of the Treasury's Risk Management Division to establish more than one risk management plan, specifying the terms and conditions for coverage, to provide liability coverage for various political subdivisions of the state. Effective 3/15/04. Chapter 121, Laws of 2004. |
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Telephone Sales |
Prohibits telephone solicitations to numbers on the national Do Not Call list, including calls to wireless-phone numbers, and prohibits telephone solicitors from blocking identifying information. Effective 3/29/04. Chapter 224, Laws of 2004. |
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Telephone Sales |
Prohibits telephone solicitations to numbers on the national Do Not Call list including calls to wireless-phone numbers, and prohibits telephone solicitors from blocking identifying information. Establishes instances of permitted solicitations. Effective 3/29/04. Chapter 202, Laws of 2004. |
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Tort Reform |
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(Appeal Bond) |
Sets the maximum amount for an appeal bond or irrevocable letter of credit, required of appellants collectively in a civil action, at $25 million, regardless of the value of the judgement. Effective 4/8/04. Chapter 356, Laws of 2004. |
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(Appeal Bond) |
Establishes a statutory ceiling amount of $25 million for appeal bonds in civil actions. Effective 4/8/04. Chapter 328, Laws of 2004. |
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Workers' Compensation |
Provides that the Workers' Compensation Commission has the powers of a court to administer oath, to mandate the appearance of witnesses and the production of documents, to punish for contempt, to appoint guardians and to enforce compliance with its orders and awards. Effective 3/19/04. Chapter 178, Laws of 2004. |
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Workers' Compensation |
Allows (appropriately certified) contractors or employees of state agencies and workshops that provide vocational rehabilitation to use the title "rehabilitation provider" if they are providing these services through the workers' compensation system. Effective 3/31/04. Chapter 271, Laws of 2004. |
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Workers' Compensation |
Amends provisions relating to the security deposit required from workers' compensation self-insurers and defines acceptable financial instruments to include corporate surety bonds, certificates of deposit, U.S. government obligations, letters of credit, and cash. Effective 3/4/04. Chapter 44, Laws of 2004. |
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Workers' Compensation |
Converts into a lien the assignment to an employer of an injured employee's right to recover damages from a third party. The lien rights would apply to occupational disease as well as injury. Effective 4/15/04. Chapter 914, Laws of 2004. |
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Workers' Compensation |
Requires a specified financial deposit from self-insured workers' compensation insurers. Effective 3/19/04. Chapter 173, Laws of 2004. |
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Workers' Compensation |
Creates a lien on behalf of employers when injured/diseased employees recover damages from a third party. Effective 4/15/04. Chapter 941, Laws of 2004. |
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The information contained in this summary is not intended as a portrayal of every property/casualty-related law enacted in each state. Rather, it represents recently enacted legislation specifically identified by NAMIC State and Regulatory Affairs Staff as bearing direct relevance to those issues that represent NAMIC's National State Legislative Agenda or otherwise deemed pertinent to the interests of the majority of NAMIC members.
This summary is for use as a convenient tool for our members, and is not intended, and should not be considered to be, legal advice. Please consult your legal representatives.
Compliance Resources
Legislative and Regulatory Information Service (LARIS)
NAMIC Survey of New State Insurance Laws
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