§ 38.2-2000.1 Definitions
As used in this chapter: “Pool” means an arrangement, either voluntary or mandated by law, established on an on-going basis, pursuant to which two or more insurers participate in the sharing of risks on a predetermined basis, which arrangement may operate through an association, syndicate, or other pool arrangement. “Residual market mechanism” means an arrangement, either voluntary or mandated by law, involving participation by insurers in equitable apportionment among themselves of insurance which may be afforded applicants who are unable to obtain insurance through ordinary methods including any filed and approved plans. “Virginia Auto Insurance Plan” means that organization established for assigned risks pursuant to the provisions of § 46.2-464. “Virginia Property Insurance Association” means that organization established pursuant to Chapter 27 (§ 38.2-2700 et seq.) of this title. “Virginia Workers’ Compensation Insurance Plan” means that organization established for assigned risks pursuant to the provisions of § 65.2-820.
History
This law was first created in 1993. The record of its establishment is cataloged in chapter 985 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1993 “Acts” aren’t available online.
1993, c. 985.