                                 CODE OF VIRGINIA

SPECIAL RESTRICTIONS ON INDIVIDUAL INSURERS (§ 38.2-1911)

A. The Commission may by order require that a particular insurer file any or all
of its rates and supplementary rate information thirty days prior to their
effective date, if the Commission finds, after providing notice and opportunity
to be heard, that the protection of the interests of the insurer&#8217;s
policyholders and the public in this Commonwealth requires closer supervision of
the insurer&#8217;s rates because of the insurer&#8217;s financial condition or
repetitive filing of rates that are not in compliance with &#xA7; 38.2-1904. The
Commission may extend the waiting period of any filing for thirty additional
days by written notice to the insurer before the first thirty-day period
expires.

B. The filing shall be approved or disapproved during the waiting period or
during its extension. If the filing is not disapproved before the expiration of
the waiting period or of its extension, the filing shall be deemed to meet the
requirements of this chapter, subject to the possibility of subsequent
disapproval under &#xA7; 38.2-1910.

C. Any insurer affected by an order entered under subsection A of this section
may request a rehearing by the Commission after the expiration of twelve months
from the date of the Commission&#8217;s former order.

HISTORY: 1973, c. 504, § 38.1-279.39; 1986, c. 562.