{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-3728.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-3728.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-3728.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-3728.html"}],"law_id":67560,"edition_id":1,"section_id":67560,"structure_id":15016,"section_number":"38.2-3728","catch_line":"Use of rates","history":"1992, c. 586.","full_text":"A\n\nUse of prima facie rates. An insurer that files rates or has rates on file that are not in excess of the prima facie rates set forth in § 38.2-3726 or published as set forth in § 38.2-3727, to the extent adjusted pursuant to § 38.2-3730, may use those rates without further proof of their reasonableness.B\n\nUse of rates higher than prima facie rates. An insurer may file for approval of and use rates that are higher than the prima facie rates set forth in § 38.2-3726 or published as set forth in § 38.2-3727, to the extent adjusted by § 38.2-3730. In order to use these higher rates, it shall be demonstrated to the satisfaction of the Commission that the use of such higher rates will result in a ratio of claims incurred to premiums earned (assuming the use of such higher rates) that is not less than the loss ratios as required by § 38.2-3725 D and E for those accounts to which such higher rates apply and that such upward deviations will not result on a statewide basis for that insurer of a ratio of claims incurred to premiums earned of less than the expected loss ratio underlying the current prima facie rate developed or adjusted pursuant to § 38.2-3730. Deviations effective for 1993 and 1994 for credit life insurance shall be derived based upon a fifty percent loss ratio.\n\t\t\tIf rates higher than the prima facie rates provided for in §§ 38.2-3726 and 38.2-3727, to the extent adjusted pursuant to § 38.2-3730, are filed for approval, the filing shall specify the account or accounts to which such rates apply. Such rates may be applied on an equitable basis approved by the Commission to only one or more accounts specified by the insurer for which the experience has been less favorable than expected.C\n\nApproval period of deviated rates.1\n\nA deviated rate will be in effect for a period of time not longer than the experience period used to establish such rate. In no event will deviated rates remain in effect after the effective date that new prima facie rates are effective as set forth in § 38.2-3730.2\n\nNotwithstanding subsection A of this section, the prima facie rates shall be employed in the event that the account becomes insured by another insurer.D\n\nAs used in this section:1\n\n“Experience” means “earned premiums” and “incurred claims” during the experience period.2\n\n“Experience period” means the most recent period of time for which experience is reported, but not for a period longer than three full years.3\n\n“Incurred claims” means total claims paid during the experience period, adjusted for the change in claim reserve.","order_by":null,"text":{"0":{"id":244787,"text":"Use of prima facie rates. An insurer that files rates or has rates on file that are not in excess of the prima facie rates set forth in § 38.2-3726 or published as set forth in § 38.2-3727, to the extent adjusted pursuant to § 38.2-3730, may use those rates without further proof of their reasonableness.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":244788,"text":"Use of rates higher than prima facie rates. An insurer may file for approval of and use rates that are higher than the prima facie rates set forth in § 38.2-3726 or published as set forth in § 38.2-3727, to the extent adjusted by § 38.2-3730. In order to use these higher rates, it shall be demonstrated to the satisfaction of the Commission that the use of such higher rates will result in a ratio of claims incurred to premiums earned (assuming the use of such higher rates) that is not less than the loss ratios as required by § 38.2-3725 D and E for those accounts to which such higher rates apply and that such upward deviations will not result on a statewide basis for that insurer of a ratio of claims incurred to premiums earned of less than the expected loss ratio underlying the current prima facie rate developed or adjusted pursuant to § 38.2-3730. Deviations effective for 1993 and 1994 for credit life insurance shall be derived based upon a fifty percent loss ratio.\n\t\t\tIf rates higher than the prima facie rates provided for in §§ 38.2-3726 and 38.2-3727, to the extent adjusted pursuant to § 38.2-3730, are filed for approval, the filing shall specify the account or accounts to which such rates apply. Such rates may be applied on an equitable basis approved by the Commission to only one or more accounts specified by the insurer for which the experience has been less favorable than expected.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":244789,"text":"Approval period of deviated rates.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"C1"},"3":{"id":244790,"text":"A deviated rate will be in effect for a period of time not longer than the experience period used to establish such rate. In no event will deviated rates remain in effect after the effective date that new prima facie rates are effective as set forth in § 38.2-3730.","type":"section","prefixes":["C","1"],"prefix":"1","entire_prefix":"C1","prefix_anchor":"C1","level":2,"prior_prefix":"C","next_prefix":"C2"},"4":{"id":244791,"text":"Notwithstanding subsection A of this section, the prima facie rates shall be employed in the event that the account becomes insured by another insurer.","type":"section","prefixes":["C","2"],"prefix":"2","entire_prefix":"C2","prefix_anchor":"C2","level":2,"prior_prefix":"C1","next_prefix":"D"},"5":{"id":244792,"text":"As used in this section:","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C2","next_prefix":"D1"},"6":{"id":244793,"text":"“Experience” means “earned premiums” and “incurred claims” during the experience period.","type":"section","prefixes":["D","1"],"prefix":"1","entire_prefix":"D1","prefix_anchor":"D1","level":2,"prior_prefix":"D","next_prefix":"D2"},"7":{"id":244794,"text":"“Experience period” means the most recent period of time for which experience is reported, but not for a period longer than three full years.","type":"section","prefixes":["D","2"],"prefix":"2","entire_prefix":"D2","prefix_anchor":"D2","level":2,"prior_prefix":"D1","next_prefix":"D3"},"8":{"id":244795,"text":"“Incurred claims” means total claims paid during the experience period, adjusted for the change in claim reserve.","type":"section","prefixes":["D","3"],"prefix":"3","entire_prefix":"D3","prefix_anchor":"D3","level":2,"prior_prefix":"D2"}},"ancestry":[{"id":15016,"edition_id":1,"name":"Credit Life Insurance and Credit Accident and Sickness Insurance","identifier":"37.1","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:51:32","date_modified":"2026-06-26 03:51:32","permalink":{"id":216059,"object_type":"structure","relational_id":15016,"identifier":"37.1","token":"38.2\/37.1","url":"\/38.2\/37.1\/","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":78738,"structure_id":15016,"section_number":"38.2-3717","catch_line":"Scope","url":"\/38.2-3717\/","token":"38.2\/37.1\/38.2-3717","metadata":false},{"id":61942,"structure_id":15016,"section_number":"38.2-3718","catch_line":"Definitions","url":"\/38.2-3718\/","token":"38.2\/37.1\/38.2-3718","metadata":false},{"id":68352,"structure_id":15016,"section_number":"38.2-3719","catch_line":"Forms of credit life insurance and credit accident and sickness insurance","url":"\/38.2-3719\/","token":"38.2\/37.1\/38.2-3719","metadata":false},{"id":71214,"structure_id":15016,"section_number":"38.2-3720","catch_line":"Amount of credit life insurance and credit accident and sickness insurance","url":"\/38.2-3720\/","token":"38.2\/37.1\/38.2-3720","metadata":false},{"id":83437,"structure_id":15016,"section_number":"38.2-3721","catch_line":"Term of credit life insurance and credit accident and sickness insurance","url":"\/38.2-3721\/","token":"38.2\/37.1\/38.2-3721","metadata":false},{"id":74250,"structure_id":15016,"section_number":"38.2-3722","catch_line":"Variable interest rate indebtedness; amount; disclosure; refunds","url":"\/38.2-3722\/","token":"38.2\/37.1\/38.2-3722","metadata":false},{"id":60031,"structure_id":15016,"section_number":"38.2-3723","catch_line":"Reserves","url":"\/38.2-3723\/","token":"38.2\/37.1\/38.2-3723","metadata":false},{"id":72023,"structure_id":15016,"section_number":"38.2-3724","catch_line":"Policy provisions; disclosure to debtors; delivery of policy or certificate","url":"\/38.2-3724\/","token":"38.2\/37.1\/38.2-3724","metadata":false},{"id":79475,"structure_id":15016,"section_number":"38.2-3725","catch_line":"Policy forms to be filed with Commission; approval or disapproval by Commission","url":"\/38.2-3725\/","token":"38.2\/37.1\/38.2-3725","metadata":false},{"id":81616,"structure_id":15016,"section_number":"38.2-3726","catch_line":"Credit life insurance rates","url":"\/38.2-3726\/","token":"38.2\/37.1\/38.2-3726","metadata":false},{"id":64017,"structure_id":15016,"section_number":"38.2-3727","catch_line":"Credit accident and sickness insurance rates","url":"\/38.2-3727\/","token":"38.2\/37.1\/38.2-3727","metadata":false},{"id":67560,"structure_id":15016,"section_number":"38.2-3728","catch_line":"Use of rates","url":"\/38.2-3728\/","token":"38.2\/37.1\/38.2-3728","metadata":false},{"id":77928,"structure_id":15016,"section_number":"38.2-3729","catch_line":"Refunds","url":"\/38.2-3729\/","token":"38.2\/37.1\/38.2-3729","metadata":false},{"id":76093,"structure_id":15016,"section_number":"38.2-3730","catch_line":"Experience reports and adjustment of prima facie rates","url":"\/38.2-3730\/","token":"38.2\/37.1\/38.2-3730","metadata":false},{"id":63767,"structure_id":15016,"section_number":"38.2-3731","catch_line":"Claims","url":"\/38.2-3731\/","token":"38.2\/37.1\/38.2-3731","metadata":false},{"id":78709,"structure_id":15016,"section_number":"38.2-3732","catch_line":"Insurer delegation of duties","url":"\/38.2-3732\/","token":"38.2\/37.1\/38.2-3732","metadata":false},{"id":76840,"structure_id":15016,"section_number":"38.2-3733","catch_line":"Portion of premium may be allowed to creditor; insurance may be provided and serviced at creditor's place of business","url":"\/38.2-3733\/","token":"38.2\/37.1\/38.2-3733","metadata":false},{"id":63261,"structure_id":15016,"section_number":"38.2-3734","catch_line":"License requirements","url":"\/38.2-3734\/","token":"38.2\/37.1\/38.2-3734","metadata":false},{"id":57264,"structure_id":15016,"section_number":"38.2-3735","catch_line":"Disclosure and readability","url":"\/38.2-3735\/","token":"38.2\/37.1\/38.2-3735","metadata":false},{"id":71653,"structure_id":15016,"section_number":"38.2-3736","catch_line":"Noncontributory coverage","url":"\/38.2-3736\/","token":"38.2\/37.1\/38.2-3736","metadata":false},{"id":69488,"structure_id":15016,"section_number":"38.2-3737","catch_line":"Application","url":"\/38.2-3737\/","token":"38.2\/37.1\/38.2-3737","metadata":false},{"id":70889,"structure_id":15016,"section_number":"38.2-3738","catch_line":"What laws applicable","url":"\/38.2-3738\/","token":"38.2\/37.1\/38.2-3738","metadata":false}],"previous_section":{"id":64017,"structure_id":15016,"section_number":"38.2-3727","catch_line":"Credit accident and sickness insurance rates","url":"\/38.2-3727\/","token":"38.2\/37.1\/38.2-3727","metadata":false},"next_section":{"id":77928,"structure_id":15016,"section_number":"38.2-3729","catch_line":"Refunds","url":"\/38.2-3729\/","token":"38.2\/37.1\/38.2-3729","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-3728\/","history_text":"

This law was first created in 1992. The record of its establishment is cataloged in chapter 586 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 1992 \u201cActs\u201d aren\u2019t available online.<\/p>","references":false,"refers_to":[{"id":79475,"section_number":"38.2-3725","catch_line":"Policy forms to be filed with Commission; approval or disapproval by Commission","order_by":null,"url":"\/38.2-3725\/"},{"id":81616,"section_number":"38.2-3726","catch_line":"Credit life insurance rates","order_by":null,"url":"\/38.2-3726\/"},{"id":64017,"section_number":"38.2-3727","catch_line":"Credit accident and sickness insurance rates","order_by":null,"url":"\/38.2-3727\/"},{"id":76093,"section_number":"38.2-3730","catch_line":"Experience reports and adjustment of prima facie rates","order_by":null,"url":"\/38.2-3730\/"}],"permalink":{"id":216105,"object_type":"law","relational_id":67560,"identifier":"38.2-3728","token":"38.2\/37.1\/38.2-3728","url":"\/38.2-3728\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-3728\/","token":"38.2\/37.1\/38.2-3728","dublin_core":{"Title":"Use of rates","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-3728","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Use of prima facie rates<\/span><\/span>. An insurer<\/span> that files rates<\/span><\/span> or has rates<\/span><\/span> on file that are not in excess of the prima facie rates<\/span><\/span> set forth in § 38.2-3726<\/a> or published as set forth in § 38.2-3727<\/a>, to the extent adjusted pursuant to § 38.2-3730<\/a>, may use those rates<\/span><\/span> without further proof of their reasonableness. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Use of rates<\/span><\/span> higher than prima facie rates<\/span><\/span>. An insurer<\/span> may file for approval of and use rates<\/span><\/span> that are higher than the prima facie rates<\/span><\/span> set forth in § 38.2-3726<\/a> or published as set forth in § 38.2-3727<\/a>, to the extent adjusted by § 38.2-3730<\/a>. In order<\/span> to use these higher rates<\/span><\/span>, it shall be demonstrated to the satisfaction of the Commission<\/span> that the use of such higher rates<\/span><\/span> will result in a ratio of claims incurred to premiums earned (assuming the use of such higher rates<\/span><\/span>) that is not less than the loss ratios as required by § 38.2-3725<\/a> D and E for those accounts to which such higher rates<\/span><\/span> apply and that such upward deviations will not result on a statewide basis for that insurer<\/span> of a ratio of claims incurred to premiums earned of less than the expected loss ratio underlying the current prima facie rate<\/span> developed or adjusted pursuant to § 38.2-3730<\/a>. Deviations effective for 1993 and 1994 for credit life insurance<\/span> shall be derived based upon a fifty percent loss ratio.\n\t\t\tIf rates<\/span><\/span> higher than the prima facie rates<\/span><\/span> provided for in §§ 38.2-3726<\/a> and 38.2-3727<\/a>, to the extent adjusted pursuant to § 38.2-3730<\/a>, are filed for approval, the filing shall specify the account or accounts to which such rates<\/span><\/span> apply. Such rates<\/span><\/span> may be applied on an equitable<\/span> basis approved by the Commission<\/span> to only one or more accounts specified by the insurer<\/span> for which the experience<\/span> has been less favorable than expected. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Approval period of deviated rates<\/span><\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> A deviated rate<\/span> will be in effect for a period of time not longer than the experience period<\/span> used to establish such rate<\/span>. In no event will deviated rates<\/span><\/span> remain in effect after the effective date that new prima facie rates<\/span><\/span> are effective as set forth in § 38.2-3730<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Notwithstanding subsection A of this section, the prima facie rates<\/span><\/span> shall be employed in the event that the account becomes insured by another insurer<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> As used in this section: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> “Experience” means “earned premiums<\/span>” and “incurred claims<\/span>” during the experience period<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> “Experience period<\/span>” means the most recent period of time for which experience is reported, but not for a period longer than three full years. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> “Incurred claims<\/span>” means total claims paid during the experience period<\/span>, adjusted for the change in claim reserve. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nUSE OF RATES (\u00a7 38.2-3728)\n\nA. Use of prima facie rates. An insurer that files rates or has rates on file\nthat are not in excess of the prima facie rates set forth in § 38.2-3726 or\npublished as set forth in § 38.2-3727, to the extent adjusted pursuant to\n§ 38.2-3730, may use those rates without further proof of their\nreasonableness.\n\nB. Use of rates higher than prima facie rates. An insurer may file for approval\nof and use rates that are higher than the prima facie rates set forth in §\n38.2-3726 or published as set forth in § 38.2-3727, to the extent adjusted\nby § 38.2-3730. In order to use these higher rates, it shall be\ndemonstrated to the satisfaction of the Commission that the use of such higher\nrates will result in a ratio of claims incurred to premiums earned (assuming the\nuse of such higher rates) that is not less than the loss ratios as required by\n§ 38.2-3725 D and E for those accounts to which such higher rates apply and\nthat such upward deviations will not result on a statewide basis for that\ninsurer of a ratio of claims incurred to premiums earned of less than the\nexpected loss ratio underlying the current prima facie rate developed or\nadjusted pursuant to § 38.2-3730. Deviations effective for 1993 and 1994\nfor credit life insurance shall be derived based upon a fifty percent loss\nratio.\n\t\t\tIf rates higher than the prima facie rates provided for in §§\n38.2-3726 and 38.2-3727, to the extent adjusted pursuant to § 38.2-3730,\nare filed for approval, the filing shall specify the account or accounts to\nwhich such rates apply. Such rates may be applied on an equitable basis approved\nby the Commission to only one or more accounts specified by the insurer for\nwhich the experience has been less favorable than expected.\n\nC. Approval period of deviated rates.\n\n 1. A deviated rate will be in effect for a period of time not longer than the\n experience period used to establish such rate. In no event will deviated rates\n remain in effect after the effective date that new prima facie rates are\n effective as set forth in § 38.2-3730.\n\n 2. Notwithstanding subsection A of this section, the prima facie rates shall\n be employed in the event that the account becomes insured by another insurer.\n\nD. As used in this section:\n\n 1. “Experience” means “earned premiums” and\n “incurred claims” during the experience period.\n\n 2. “Experience period” means the most recent period of time for\n which experience is reported, but not for a period longer than three full\n years.\n\n 3. “Incurred claims” means total claims paid during the experience\n period, adjusted for the change in claim reserve.\n\nHISTORY: 1992, c. 586.","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}}