{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/38.2-5021.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/38.2-5021.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/38.2-5021.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/38.2-5021.html"}],"law_id":84304,"edition_id":1,"section_id":84304,"structure_id":13218,"section_number":"38.2-5021","catch_line":"Actuarial investigation, valuations, gain\/loss analysis; notice if assessments prove insufficient","history":"1987, c. 540; 1989, c. 523; 2008, cc. 267, 520.","full_text":"A\n\nThe Bureau of Insurance of the State Corporation Commission shall undertake an actuarial investigation of the requirements of the Fund based on the Fund’s experience in the first year of operation, including without limitation the assets and liabilities of the Fund. Pursuant to such investigation, the State Corporation Commission shall establish the rate of contribution of the entities listed in subsection E of § 38.2-5020 for the tax year beginning January 1, 1989.\n\t\t\tFollowing the initial valuation, the State Corporation Commission shall cause an actuarial valuation to be made of the assets and liabilities of the Fund no less frequently than biennially. Pursuant to the results of such valuations, the State Corporation Commission shall prepare a statement as to the contribution rate applicable to contributors listed in subsection E of § 38.2-5020. However, at no time shall the rate be greater than one quarter of one percent of net direct premiums written.\n\t\t\tIn conducting the actuarial evaluation, a loss reserving methodology consistent with the one employed by the Florida Birth-Related Neurological Injury Compensation Association as of July 1, 2007, may be employed in order to account for individual participant costs and injury characteristics to the extent that the data are available to perform such methodology and the State Corporation Commission’s actuary determines that such methodology is actuarially appropriate.B\n\nIn the event that the State Corporation Commission finds that the Fund cannot be maintained on an actuarially sound basis subject to the maximum assessments listed in § 38.2-5020, the Commission shall promptly notify the Speaker of the House of Delegates, the President of the Senate, the board of directors of the Program, and the Virginia Workers’ Compensation Commission.","order_by":null,"text":{"0":{"id":302200,"text":"The Bureau of Insurance of the State Corporation Commission shall undertake an actuarial investigation of the requirements of the Fund based on the Fund’s experience in the first year of operation, including without limitation the assets and liabilities of the Fund. Pursuant to such investigation, the State Corporation Commission shall establish the rate of contribution of the entities listed in subsection E of § 38.2-5020 for the tax year beginning January 1, 1989.\n\t\t\tFollowing the initial valuation, the State Corporation Commission shall cause an actuarial valuation to be made of the assets and liabilities of the Fund no less frequently than biennially. Pursuant to the results of such valuations, the State Corporation Commission shall prepare a statement as to the contribution rate applicable to contributors listed in subsection E of § 38.2-5020. However, at no time shall the rate be greater than one quarter of one percent of net direct premiums written.\n\t\t\tIn conducting the actuarial evaluation, a loss reserving methodology consistent with the one employed by the Florida Birth-Related Neurological Injury Compensation Association as of July 1, 2007, may be employed in order to account for individual participant costs and injury characteristics to the extent that the data are available to perform such methodology and the State Corporation Commission’s actuary determines that such methodology is actuarially appropriate.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":302201,"text":"In the event that the State Corporation Commission finds that the Fund cannot be maintained on an actuarially sound basis subject to the maximum assessments listed in § 38.2-5020, the Commission shall promptly notify the Speaker of the House of Delegates, the President of the Senate, the board of directors of the Program, and the Virginia Workers’ Compensation Commission.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":13218,"edition_id":1,"name":"Virginia Birth-Related Neurological Injury Compensation Act","identifier":"50","label":"chapter","depth":2,"order_by":1,"parent_id":12698,"metadata":{},"date_created":"2026-06-26 03:44:28","date_modified":"2026-06-26 03:44:28","permalink":{"id":217589,"object_type":"structure","relational_id":13218,"identifier":"50","token":"38.2\/50","url":"\/38.2\/50\/","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":74067,"structure_id":13218,"section_number":"38.2-5000","catch_line":"Short title","url":"\/38.2-5000\/","token":"38.2\/50\/38.2-5000","metadata":false},{"id":83577,"structure_id":13218,"section_number":"38.2-5001","catch_line":"Definitions","url":"\/38.2-5001\/","token":"38.2\/50\/38.2-5001","metadata":false},{"id":77129,"structure_id":13218,"section_number":"38.2-5002","catch_line":"Virginia Birth-Related Neurological Injury Compensation Program; exclusive remedy; exception","url":"\/38.2-5002\/","token":"38.2\/50\/38.2-5002","metadata":false},{"id":66273,"structure_id":13218,"section_number":"38.2-5002.1","catch_line":"Representation by Office of Attorney General; applicability of Public Procurement Act, Freedom of Information Act, and Administrative Process Act","url":"\/38.2-5002.1\/","token":"38.2\/50\/38.2-5002.1","metadata":false},{"id":57479,"structure_id":13218,"section_number":"38.2-5002.2","catch_line":"Confidentiality of certain information; penalty","url":"\/38.2-5002.2\/","token":"38.2\/50\/38.2-5002.2","metadata":false},{"id":72413,"structure_id":13218,"section_number":"38.2-5003","catch_line":"Virginia Workers' Compensation Commission authorized to hear and determine claims","url":"\/38.2-5003\/","token":"38.2\/50\/38.2-5003","metadata":false},{"id":57908,"structure_id":13218,"section_number":"38.2-5004","catch_line":"Filing of claims; review by Board of Medicine; review by Department of Health; filing of responses; medical records","url":"\/38.2-5004\/","token":"38.2\/50\/38.2-5004","metadata":false},{"id":54226,"structure_id":13218,"section_number":"38.2-5004.1","catch_line":"Notification of possible beneficiaries","url":"\/38.2-5004.1\/","token":"38.2\/50\/38.2-5004.1","metadata":false},{"id":59287,"structure_id":13218,"section_number":"38.2-5005","catch_line":"Tolling of statute of limitations","url":"\/38.2-5005\/","token":"38.2\/50\/38.2-5005","metadata":false},{"id":62777,"structure_id":13218,"section_number":"38.2-5006","catch_line":"Hearing; parties","url":"\/38.2-5006\/","token":"38.2\/50\/38.2-5006","metadata":false},{"id":73938,"structure_id":13218,"section_number":"38.2-5007","catch_line":"Interrogatories and depositions","url":"\/38.2-5007\/","token":"38.2\/50\/38.2-5007","metadata":false},{"id":62457,"structure_id":13218,"section_number":"38.2-5008","catch_line":"Determination of claims; presumption; finding of Virginia Workers' Compensation Commission binding on participants; medical advisory panel","url":"\/38.2-5008\/","token":"38.2\/50\/38.2-5008","metadata":false},{"id":85578,"structure_id":13218,"section_number":"38.2-5008.1","catch_line":"Right to confront and cross-examine witnesses","url":"\/38.2-5008.1\/","token":"38.2\/50\/38.2-5008.1","metadata":false},{"id":78254,"structure_id":13218,"section_number":"38.2-5009","catch_line":"Commission awards for birth-related neurological injuries; notice of award","url":"\/38.2-5009\/","token":"38.2\/50\/38.2-5009","metadata":false},{"id":87239,"structure_id":13218,"section_number":"38.2-5009.1","catch_line":"Infants dying shortly after birth","url":"\/38.2-5009.1\/","token":"38.2\/50\/38.2-5009.1","metadata":false},{"id":79332,"structure_id":13218,"section_number":"38.2-5010","catch_line":"Rehearing on Commission determination or award","url":"\/38.2-5010\/","token":"38.2\/50\/38.2-5010","metadata":false},{"id":67787,"structure_id":13218,"section_number":"38.2-5011","catch_line":"Conclusiveness of determination or award; appeal","url":"\/38.2-5011\/","token":"38.2\/50\/38.2-5011","metadata":false},{"id":86971,"structure_id":13218,"section_number":"38.2-5012","catch_line":"Enforcement, etc., of orders and awards","url":"\/38.2-5012\/","token":"38.2\/50\/38.2-5012","metadata":false},{"id":54550,"structure_id":13218,"section_number":"38.2-5013","catch_line":"Limitation on claims","url":"\/38.2-5013\/","token":"38.2\/50\/38.2-5013","metadata":false},{"id":76811,"structure_id":13218,"section_number":"38.2-5014","catch_line":"Scope","url":"\/38.2-5014\/","token":"38.2\/50\/38.2-5014","metadata":false},{"id":60095,"structure_id":13218,"section_number":"38.2-5015","catch_line":"Birth-Related Neurological Injury Compensation Fund; assets of the Fund; audit","url":"\/38.2-5015\/","token":"38.2\/50\/38.2-5015","metadata":false},{"id":54316,"structure_id":13218,"section_number":"38.2-5016","catch_line":"Board of directors; appointment; vacancies; term; list of Program claimants","url":"\/38.2-5016\/","token":"38.2\/50\/38.2-5016","metadata":false},{"id":54427,"structure_id":13218,"section_number":"38.2-5016.1","catch_line":"Investment strategy advice; expected returns","url":"\/38.2-5016.1\/","token":"38.2\/50\/38.2-5016.1","metadata":false},{"id":65282,"structure_id":13218,"section_number":"38.2-5017","catch_line":"Plan of operation","url":"\/38.2-5017\/","token":"38.2\/50\/38.2-5017","metadata":false},{"id":61928,"structure_id":13218,"section_number":"38.2-5018","catch_line":"Assessments to be held in restricted cash account","url":"\/38.2-5018\/","token":"38.2\/50\/38.2-5018","metadata":false},{"id":72367,"structure_id":13218,"section_number":"38.2-5019","catch_line":"Repealed","url":"\/38.2-5019\/","token":"38.2\/50\/38.2-5019","metadata":false},{"id":66131,"structure_id":13218,"section_number":"38.2-5020","catch_line":"Assessments","url":"\/38.2-5020\/","token":"38.2\/50\/38.2-5020","metadata":false},{"id":65425,"structure_id":13218,"section_number":"38.2-5020.1","catch_line":"Credits against malpractice insurance premiums","url":"\/38.2-5020.1\/","token":"38.2\/50\/38.2-5020.1","metadata":false},{"id":84304,"structure_id":13218,"section_number":"38.2-5021","catch_line":"Actuarial investigation, valuations, gain\/loss analysis; notice if assessments prove insufficient","url":"\/38.2-5021\/","token":"38.2\/50\/38.2-5021","metadata":false}],"previous_section":{"id":65425,"structure_id":13218,"section_number":"38.2-5020.1","catch_line":"Credits against malpractice insurance premiums","url":"\/38.2-5020.1\/","token":"38.2\/50\/38.2-5020.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-5021\/","history_text":"

This law was first created in 1987. The record of its establishment is cataloged in chapter 540 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 1987 \u201cActs\u201d aren\u2019t available online. It has been modified 2 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 1989, chapter 523; in 2008, chapters 267<\/a> and 520<\/a>.<\/p>","references":[{"id":66131,"section_number":"38.2-5020","catch_line":"Assessments","order_by":null,"url":"\/38.2-5020\/"}],"refers_to":[{"id":66131,"section_number":"38.2-5020","catch_line":"Assessments","order_by":null,"url":"\/38.2-5020\/"}],"permalink":{"id":217703,"object_type":"law","relational_id":84304,"identifier":"38.2-5021","token":"38.2\/50\/38.2-5021","url":"\/38.2-5021\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/38.2-5021\/","token":"38.2\/50\/38.2-5021","dublin_core":{"Title":"Actuarial investigation, valuations, gain\/loss analysis; notice if assessments prove insufficient","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-5021","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The Bureau of Insurance<\/span> of the State<\/span> Corporation Commission<\/span> shall undertake an actuarial investigation of the requirements of the Fund based on the Fund’s experience in the first year of operation, including without limitation the assets<\/span> and liabilities of the Fund. Pursuant to such investigation, the State<\/span> Corporation Commission<\/span> shall establish the rate<\/span> of contribution of the entities listed in subsection E of § 38.2-5020<\/a> for the tax year beginning January 1, 1989.\n\t\t\tFollowing the initial valuation, the State<\/span> Corporation Commission<\/span> shall cause an actuarial valuation to be made of the assets<\/span> and liabilities of the Fund no less frequently than biennially. Pursuant to the results of such valuations, the State<\/span> Corporation Commission<\/span> shall prepare a statement as to the contribution rate<\/span> applicable to contributors listed in subsection E of § 38.2-5020<\/a>. However, at no time shall the rate<\/span> be greater than one quarter of one percent of net direct premiums written.\n\t\t\tIn conducting the actuarial evaluation, a loss reserving methodology consistent with the one employed by the Florida Birth-Related Neurological Injury<\/span> Compensation Association as of July 1, 2007, may be employed in order<\/span> to account for individual participant costs and injury characteristics to the extent that the data are available to perform such methodology and the State<\/span> Corporation Commission<\/span>’s actuary determines that such methodology is actuarially appropriate. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> In the event that the State<\/span> Corporation Commission<\/span> finds that the Fund cannot be maintained on an actuarially sound basis subject to the maximum assessments listed in § 38.2-5020<\/a>, the Commission<\/span> shall promptly notify the Speaker of the House of Delegates, the President of the Senate, the board of directors of the Program<\/span>, and the Virginia Workers’ Compensation Commission<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nACTUARIAL INVESTIGATION, VALUATIONS, GAIN\/LOSS ANALYSIS; NOTICE IF ASSESSMENTS\nPROVE INSUFFICIENT (\u00a7 38.2-5021)\n\nA. The Bureau of Insurance of the State Corporation Commission shall undertake\nan actuarial investigation of the requirements of the Fund based on the\nFund’s experience in the first year of operation, including without\nlimitation the assets and liabilities of the Fund. Pursuant to such\ninvestigation, the State Corporation Commission shall establish the rate of\ncontribution of the entities listed in subsection E of § 38.2-5020 for the\ntax year beginning January 1, 1989.\n\t\t\tFollowing the initial valuation, the State Corporation Commission shall cause\nan actuarial valuation to be made of the assets and liabilities of the Fund no\nless frequently than biennially. Pursuant to the results of such valuations, the\nState Corporation Commission shall prepare a statement as to the contribution\nrate applicable to contributors listed in subsection E of § 38.2-5020.\nHowever, at no time shall the rate be greater than one quarter of one percent of\nnet direct premiums written.\n\t\t\tIn conducting the actuarial evaluation, a loss reserving methodology\nconsistent with the one employed by the Florida Birth-Related Neurological\nInjury Compensation Association as of July 1, 2007, may be employed in order to\naccount for individual participant costs and injury characteristics to the\nextent that the data are available to perform such methodology and the State\nCorporation Commission’s actuary determines that such methodology is\nactuarially appropriate.\n\nB. In the event that the State Corporation Commission finds that the Fund cannot\nbe maintained on an actuarially sound basis subject to the maximum assessments\nlisted in § 38.2-5020, the Commission shall promptly notify the Speaker of\nthe House of Delegates, the President of the Senate, the board of directors of\nthe Program, and the Virginia Workers’ Compensation Commission.\n\nHISTORY: 1987, c. 540; 1989, c. 523; 2008, cc. 267, 520.","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}}