                                 CODE OF VIRGINIA

RATES (§ 38.2-5206)

A. Benefits provided for long-term care shall be reviewed and approved as set
forth in regulations issued by the Commission addressing long-term care
insurance. The regulations shall provide standards for initial filing
requirements and premium rate schedule increases similar to those set forth in
the model regulation for long-term care insurance developed by the National
Association of Insurance Commissioners.

B. The regulation promulgated under this section shall recognize the unique,
developing and experimental nature of long-term care insurance and shall
recognize the unique needs of those individuals who have reached retirement age
and the needs of those preretirement individuals interested in purchasing
long-term care insurance policies.

C. A certificate by a qualified actuary or other qualified professional approved
by the Commission as to the adequacy of the rates and reserves shall be filed
with the Commission along with adequate supporting information.

HISTORY: 1987, c. 586; 1990, c. 286; 2002, c. 334.