{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-1912.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-1912.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-1912.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-1912.html"}],"law_id":77322,"edition_id":1,"section_id":77322,"structure_id":13456,"section_number":"38.2-1912","catch_line":"Delayed effect of rates; certification of reinsurance with affiliated company","history":"1973, c. 504, \u00a7 38.1-279.40; 1986, c. 562; 1987, c. 697; 1990, cc. 487, 597; 1993, c. 985.","full_text":"A\n\nIf the Commission finds in any class, line, or subdivision of insurance, or in any rating class or rating territory or for insurance as defined in § 38.2-119 that (i) competition is not an effective regulator of the rates charged, (ii) Virginia loss experience and other factors specifically applicable to the Commonwealth have not been properly used to determine the rate, (iii) a substantial number of insurers are competing irresponsibly through the rates charged, or (iv) there are widespread violations of this chapter, it shall promulgate a rule requiring that any subsequent changes in the rates or supplementary rate information for that class, line, subdivision, rating class or rating territory shall be filed with the Commission at least sixty days before they become effective. The Commission may extend the waiting period for thirty additional days by written notice to the filer before the first sixty-day period expires. Upon filing any rate to which this section is applicable, the insurer shall give notice to the Division of Consumer Counsel of the Office of the Attorney General that such rate has been filed with the Commission and such insurer shall so certify to the Commission in its rate filing.B\n\nBy this rule, the Commission may require the filing of supporting data for any classes, lines or subdivisions of insurance, or classes of risks or combinations thereof it deems necessary for the proper functioning of the rate monitoring and regulating process.C\n\nA rule promulgated under this section shall expire no later than twenty-seven months after issue. The Commission may renew the rule after a hearing and appropriate findings under this section.D\n\nIf a filing is not accompanied by the information the Commission has required under subsection B of this section, the Commission shall within thirty days of the initial filing inform the insurer that the filing is not complete, and the filing shall be deemed to be made when the information is furnished.E\n\nIf an insurer files for a rate reduction pursuant to a rule promulgated under this section, the Commission may order the provisional use of the requested rate reduction for such period as the Commission may require to evaluate the insurer’s rate filing and supplementary rate information. The implementation of such a provisional rate reduction shall not relieve an insurer of its obligation to submit such information as deemed necessary by the Commission for its consideration of the rate filing, nor shall it interfere with the Commission’s authority to suspend use of the provisional rate, reimpose the previous rate, consider and approve a revised rate request, or otherwise exercise its authority under § 38.2-1910.F\n\nEach insurer shall so certify in a rate filing if coverage to which the rate filing applies is reinsured by another company (i) under common management, (ii) under common controlling ownership, or (iii) under other common effective legal control as defined in § 38.2-1322.","order_by":null,"text":{"0":{"id":277328,"text":"If the Commission finds in any class, line, or subdivision of insurance, or in any rating class or rating territory or for insurance as defined in § 38.2-119 that (i) competition is not an effective regulator of the rates charged, (ii) Virginia loss experience and other factors specifically applicable to the Commonwealth have not been properly used to determine the rate, (iii) a substantial number of insurers are competing irresponsibly through the rates charged, or (iv) there are widespread violations of this chapter, it shall promulgate a rule requiring that any subsequent changes in the rates or supplementary rate information for that class, line, subdivision, rating class or rating territory shall be filed with the Commission at least sixty days before they become effective. The Commission may extend the waiting period for thirty additional days by written notice to the filer before the first sixty-day period expires. Upon filing any rate to which this section is applicable, the insurer shall give notice to the Division of Consumer Counsel of the Office of the Attorney General that such rate has been filed with the Commission and such insurer shall so certify to the Commission in its rate filing.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":277329,"text":"By this rule, the Commission may require the filing of supporting data for any classes, lines or subdivisions of insurance, or classes of risks or combinations thereof it deems necessary for the proper functioning of the rate monitoring and regulating process.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":277330,"text":"A rule promulgated under this section shall expire no later than twenty-seven months after issue. The Commission may renew the rule after a hearing and appropriate findings under this section.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":277331,"text":"If a filing is not accompanied by the information the Commission has required under subsection B of this section, the Commission shall within thirty days of the initial filing inform the insurer that the filing is not complete, and the filing shall be deemed to be made when the information is furnished.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":277332,"text":"If an insurer files for a rate reduction pursuant to a rule promulgated under this section, the Commission may order the provisional use of the requested rate reduction for such period as the Commission may require to evaluate the insurer’s rate filing and supplementary rate information. The implementation of such a provisional rate reduction shall not relieve an insurer of its obligation to submit such information as deemed necessary by the Commission for its consideration of the rate filing, nor shall it interfere with the Commission’s authority to suspend use of the provisional rate, reimpose the previous rate, consider and approve a revised rate request, or otherwise exercise its authority under § 38.2-1910.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"5":{"id":277333,"text":"Each insurer shall so certify in a rate filing if coverage to which the rate filing applies is reinsured by another company (i) under common management, (ii) under common controlling ownership, or (iii) under other common effective legal control as defined in § 38.2-1322.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"ancestry":[{"id":13456,"edition_id":1,"name":"Regulation of Rates Generally","identifier":"19","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:44:55","date_modified":"2026-06-26 03:44:55","permalink":{"id":212945,"object_type":"structure","relational_id":13456,"identifier":"19","token":"38.2\/19","url":"\/38.2\/19\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12698,"edition_id":1,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":210661,"object_type":"structure","relational_id":12698,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":66229,"structure_id":13456,"section_number":"38.2-1900","catch_line":"Purposes of chapter","url":"\/38.2-1900\/","token":"38.2\/19\/38.2-1900","metadata":false},{"id":57539,"structure_id":13456,"section_number":"38.2-1901","catch_line":"Definitions","url":"\/38.2-1901\/","token":"38.2\/19\/38.2-1901","metadata":false},{"id":74191,"structure_id":13456,"section_number":"38.2-1902","catch_line":"Scope of chapter","url":"\/38.2-1902\/","token":"38.2\/19\/38.2-1902","metadata":false},{"id":70651,"structure_id":13456,"section_number":"38.2-1903","catch_line":"Exemptions","url":"\/38.2-1903\/","token":"38.2\/19\/38.2-1903","metadata":false},{"id":86657,"structure_id":13456,"section_number":"38.2-1903.1","catch_line":"Exemptions of large commercial risks","url":"\/38.2-1903.1\/","token":"38.2\/19\/38.2-1903.1","metadata":false},{"id":68129,"structure_id":13456,"section_number":"38.2-1904","catch_line":"Rate standards","url":"\/38.2-1904\/","token":"38.2\/19\/38.2-1904","metadata":false},{"id":57802,"structure_id":13456,"section_number":"38.2-1905","catch_line":"Motor vehicle insurer not to charge points or increase premiums in certain instances","url":"\/38.2-1905\/","token":"38.2\/19\/38.2-1905","metadata":false},{"id":80697,"structure_id":13456,"section_number":"38.2-1905.1","catch_line":"Repealed","url":"\/38.2-1905.1\/","token":"38.2\/19\/38.2-1905.1","metadata":false},{"id":70804,"structure_id":13456,"section_number":"38.2-1906","catch_line":"Filing and use of rates","url":"\/38.2-1906\/","token":"38.2\/19\/38.2-1906","metadata":false},{"id":54809,"structure_id":13456,"section_number":"38.2-1906.1","catch_line":"Misquote of premium","url":"\/38.2-1906.1\/","token":"38.2\/19\/38.2-1906.1","metadata":false},{"id":67605,"structure_id":13456,"section_number":"38.2-1907","catch_line":"Filings open to inspection","url":"\/38.2-1907\/","token":"38.2\/19\/38.2-1907","metadata":false},{"id":61334,"structure_id":13456,"section_number":"38.2-1908","catch_line":"Rate making and delegation of filing obligation","url":"\/38.2-1908\/","token":"38.2\/19\/38.2-1908","metadata":false},{"id":76329,"structure_id":13456,"section_number":"38.2-1909","catch_line":"Review of rates by Commission","url":"\/38.2-1909\/","token":"38.2\/19\/38.2-1909","metadata":false},{"id":64325,"structure_id":13456,"section_number":"38.2-1910","catch_line":"Disapproval of rates","url":"\/38.2-1910\/","token":"38.2\/19\/38.2-1910","metadata":false},{"id":63878,"structure_id":13456,"section_number":"38.2-1911","catch_line":"Special restrictions on individual insurers","url":"\/38.2-1911\/","token":"38.2\/19\/38.2-1911","metadata":false},{"id":77322,"structure_id":13456,"section_number":"38.2-1912","catch_line":"Delayed effect of rates; certification of reinsurance with affiliated company","url":"\/38.2-1912\/","token":"38.2\/19\/38.2-1912","metadata":false},{"id":76016,"structure_id":13456,"section_number":"38.2-1912.1","catch_line":"Approval of prospective loss costs and supplementary rate information; \u00a7 38.2-119 rate filings","url":"\/38.2-1912.1\/","token":"38.2\/19\/38.2-1912.1","metadata":false},{"id":73514,"structure_id":13456,"section_number":"38.2-1913","catch_line":"Operation and control of rate service organizations","url":"\/38.2-1913\/","token":"38.2\/19\/38.2-1913","metadata":false},{"id":68776,"structure_id":13456,"section_number":"38.2-1914","catch_line":"Licensing of rate service organizations","url":"\/38.2-1914\/","token":"38.2\/19\/38.2-1914","metadata":false},{"id":77780,"structure_id":13456,"section_number":"38.2-1915","catch_line":"Joint underwriting or joint reinsurance organizations","url":"\/38.2-1915\/","token":"38.2\/19\/38.2-1915","metadata":false},{"id":82148,"structure_id":13456,"section_number":"38.2-1916","catch_line":"Certain conduct by insurers and rate service organizations prohibited","url":"\/38.2-1916\/","token":"38.2\/19\/38.2-1916","metadata":false},{"id":75759,"structure_id":13456,"section_number":"38.2-1916.1","catch_line":"Investigation by Attorney General of suspected violations; investigative demand to witnesses; access to business records, etc.; penalties","url":"\/38.2-1916.1\/","token":"38.2\/19\/38.2-1916.1","metadata":false},{"id":54431,"structure_id":13456,"section_number":"38.2-1916.2","catch_line":"Penalties; injunctive relief; restitution","url":"\/38.2-1916.2\/","token":"38.2\/19\/38.2-1916.2","metadata":false},{"id":64311,"structure_id":13456,"section_number":"38.2-1917","catch_line":"Injunctive relief","url":"\/38.2-1917\/","token":"38.2\/19\/38.2-1917","metadata":false},{"id":64825,"structure_id":13456,"section_number":"38.2-1918","catch_line":"Agreements for equitable apportionment of insurance","url":"\/38.2-1918\/","token":"38.2\/19\/38.2-1918","metadata":false},{"id":62231,"structure_id":13456,"section_number":"38.2-1919","catch_line":"Collection of experience data; uniformity; compilations available to insurers and rate service organizations","url":"\/38.2-1919\/","token":"38.2\/19\/38.2-1919","metadata":false},{"id":72323,"structure_id":13456,"section_number":"38.2-1919.1","catch_line":"Interchange of rating data and information","url":"\/38.2-1919.1\/","token":"38.2\/19\/38.2-1919.1","metadata":false},{"id":60173,"structure_id":13456,"section_number":"38.2-1920","catch_line":"Excess rate for a specific risk","url":"\/38.2-1920\/","token":"38.2\/19\/38.2-1920","metadata":false},{"id":81510,"structure_id":13456,"section_number":"38.2-1921","catch_line":"Combination policies","url":"\/38.2-1921\/","token":"38.2\/19\/38.2-1921","metadata":false},{"id":61464,"structure_id":13456,"section_number":"38.2-1921.1","catch_line":"Professional employer organization workers' compensation rating","url":"\/38.2-1921.1\/","token":"38.2\/19\/38.2-1921.1","metadata":false},{"id":54416,"structure_id":13456,"section_number":"38.2-1922","catch_line":"No rule prohibiting or regulating payment of dividends, etc., to be adopted","url":"\/38.2-1922\/","token":"38.2\/19\/38.2-1922","metadata":false},{"id":73419,"structure_id":13456,"section_number":"38.2-1923","catch_line":"Person aggrieved by application of rating system to be heard; appeal to Commission","url":"\/38.2-1923\/","token":"38.2\/19\/38.2-1923","metadata":false},{"id":56103,"structure_id":13456,"section_number":"38.2-1924","catch_line":"Cooperation among rate service organizations, or among rate service organizations and insurers, authorized; review by Commission","url":"\/38.2-1924\/","token":"38.2\/19\/38.2-1924","metadata":false},{"id":77979,"structure_id":13456,"section_number":"38.2-1925","catch_line":"Examination of rate service organizations and joint underwriting and joint reinsurance organizations","url":"\/38.2-1925\/","token":"38.2\/19\/38.2-1925","metadata":false},{"id":67284,"structure_id":13456,"section_number":"38.2-1926","catch_line":"Action of Commission upon request for hearing on order or decision made without a hearing","url":"\/38.2-1926\/","token":"38.2\/19\/38.2-1926","metadata":false},{"id":62597,"structure_id":13456,"section_number":"38.2-1927","catch_line":"Withholding information; giving false or misleading information","url":"\/38.2-1927\/","token":"38.2\/19\/38.2-1927","metadata":false},{"id":73884,"structure_id":13456,"section_number":"38.2-1928","catch_line":"Violations of chapter","url":"\/38.2-1928\/","token":"38.2\/19\/38.2-1928","metadata":false}],"previous_section":{"id":63878,"structure_id":13456,"section_number":"38.2-1911","catch_line":"Special restrictions on individual insurers","url":"\/38.2-1911\/","token":"38.2\/19\/38.2-1911","metadata":false},"next_section":{"id":76016,"structure_id":13456,"section_number":"38.2-1912.1","catch_line":"Approval of prospective loss costs and supplementary rate information; \u00a7 38.2-119 rate filings","url":"\/38.2-1912.1\/","token":"38.2\/19\/38.2-1912.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-1912\/","history_text":"

This law was first created in 1973. The record of its establishment is cataloged in chapter 504 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1973 \u201cActs\u201d aren\u2019t available online. It has been modified 4 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1986, chapter 562; in 1987, chapter 697; in 1990, chapters 487 and 597; in 1993, chapter 985.<\/p>","references":[{"id":70804,"section_number":"38.2-1906","catch_line":"Filing and use of rates","order_by":null,"url":"\/38.2-1906\/"},{"id":69255,"section_number":"38.2-231","catch_line":"Notice of cancellation, refusal to renew, reduction in coverage or increase in premium of certain liability insurance policies","order_by":null,"url":"\/38.2-231\/"}],"refers_to":[{"id":80898,"section_number":"38.2-119","catch_line":"Workers' compensation and employers' liability","order_by":null,"url":"\/38.2-119\/"},{"id":66587,"section_number":"38.2-1322","catch_line":"Definitions","order_by":null,"url":"\/38.2-1322\/"}],"permalink":{"id":213007,"object_type":"law","relational_id":77322,"identifier":"38.2-1912","token":"38.2\/19\/38.2-1912","url":"\/38.2-1912\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-1912\/","token":"38.2\/19\/38.2-1912","dublin_core":{"Title":"Delayed effect of rates; certification of reinsurance with affiliated company","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-1912","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> If the Commission<\/span> finds in any class, line, or subdivision of insurance<\/span>, or in any rating class or rating territory or for insurance<\/span> as defined in § 38.2-119<\/a> that (i) competition is not an effective regulator of the rates<\/span><\/span> charged, (ii) Virginia loss experience and other factors specifically applicable to the Commonwealth have not been properly used to determine the rate, (iii) a substantial number of insurers<\/span> are competing irresponsibly through the rates<\/span><\/span> charged, or (iv) there are widespread violations of this chapter, it shall promulgate a rule requiring that any subsequent changes in the rates<\/span><\/span> or supplementary rate information<\/span> for that class, line, subdivision, rating class or rating territory shall be filed with the Commission<\/span> at least sixty days before they become effective. The Commission<\/span> may extend the waiting period for thirty additional days by written notice to the filer before the first sixty-day period expires. Upon filing any rate to which this section is applicable, the insurer<\/span> shall give notice to the Division of Consumer Counsel<\/span> of the Office of the Attorney General<\/span> that such rate has been filed with the Commission<\/span> and such insurer<\/span> shall so certify to the Commission<\/span> in its rate filing. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> By this rule, the Commission<\/span> may require the filing of supporting data for any classes, lines or subdivisions of insurance<\/span>, or classes of risks or combinations thereof it deems necessary for the proper functioning of the rate monitoring and regulating process. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A rule promulgated under this section shall expire no later than twenty-seven months after issue<\/span>. The Commission<\/span> may renew the rule after a hearing<\/span> and appropriate findings<\/span> under this section. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> If a filing is not accompanied by the information the Commission<\/span> has required under subsection B of this section, the Commission<\/span> shall within thirty days of the initial filing inform the insurer<\/span> that the filing is not complete, and the filing shall be deemed to be made when the information is furnished. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> If an insurer<\/span> files for a rate reduction pursuant to a rule promulgated under this section, the Commission<\/span> may order<\/span> the provisional use of the requested rate reduction for such period as the Commission<\/span> may require to evaluate the insurer<\/span>’s rate filing and supplementary rate information<\/span>. The implementation of such a provisional rate reduction shall not relieve an insurer<\/span> of its obligation to submit such information as deemed necessary by the Commission<\/span> for its consideration of the rate filing, nor shall it interfere with the Commission<\/span>’s authority to suspend use of the provisional rate, reimpose the previous rate, consider and approve a revised rate request, or otherwise exercise its authority under § 38.2-1910<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> Each insurer<\/span> shall so certify in a rate filing if coverage to which the rate filing applies is reinsured by another company<\/span> (i) under common management, (ii) under common controlling ownership, or (iii) under other common effective legal control as defined in § 38.2-1322<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDELAYED EFFECT OF RATES; CERTIFICATION OF REINSURANCE WITH AFFILIATED COMPANY\n(\u00a7 38.2-1912)\n\nA. If the Commission finds in any class, line, or subdivision of insurance, or\nin any rating class or rating territory or for insurance as defined in §\n38.2-119 that (i) competition is not an effective regulator of the rates\ncharged, (ii) Virginia loss experience and other factors specifically applicable\nto the Commonwealth have not been properly used to determine the rate, (iii) a\nsubstantial number of insurers are competing irresponsibly through the rates\ncharged, or (iv) there are widespread violations of this chapter, it shall\npromulgate a rule requiring that any subsequent changes in the rates or\nsupplementary rate information for that class, line, subdivision, rating class\nor rating territory shall be filed with the Commission at least sixty days\nbefore they become effective. The Commission may extend the waiting period for\nthirty additional days by written notice to the filer before the first sixty-day\nperiod expires. Upon filing any rate to which this section is applicable, the\ninsurer shall give notice to the Division of Consumer Counsel of the Office of\nthe Attorney General that such rate has been filed with the Commission and such\ninsurer shall so certify to the Commission in its rate filing.\n\nB. By this rule, the Commission may require the filing of supporting data for\nany classes, lines or subdivisions of insurance, or classes of risks or\ncombinations thereof it deems necessary for the proper functioning of the rate\nmonitoring and regulating process.\n\nC. A rule promulgated under this section shall expire no later than twenty-seven\nmonths after issue. The Commission may renew the rule after a hearing and\nappropriate findings under this section.\n\nD. If a filing is not accompanied by the information the Commission has required\nunder subsection B of this section, the Commission shall within thirty days of\nthe initial filing inform the insurer that the filing is not complete, and the\nfiling shall be deemed to be made when the information is furnished.\n\nE. If an insurer files for a rate reduction pursuant to a rule promulgated under\nthis section, the Commission may order the provisional use of the requested rate\nreduction for such period as the Commission may require to evaluate the\ninsurer’s rate filing and supplementary rate information. The\nimplementation of such a provisional rate reduction shall not relieve an insurer\nof its obligation to submit such information as deemed necessary by the\nCommission for its consideration of the rate filing, nor shall it interfere with\nthe Commission’s authority to suspend use of the provisional rate,\nreimpose the previous rate, consider and approve a revised rate request, or\notherwise exercise its authority under § 38.2-1910.\n\nF. Each insurer shall so certify in a rate filing if coverage to which the rate\nfiling applies is reinsured by another company (i) under common management, (ii)\nunder common controlling ownership, or (iii) under other common effective legal\ncontrol as defined in § 38.2-1322.\n\nHISTORY: 1973, c. 504, \u00a7 38.1-279.40; 1986, c. 562; 1987, c. 697; 1990, cc.\n487, 597; 1993, c. 985.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}