                                 CODE OF VIRGINIA

DEFINITIONS (§ 38.2-2600)

As used in this chapter:
		&#8220;Fronting company&#8221; means a licensed insurer or licensed home
protection company which generally transfers to one or more unlicensed insurers
or unlicensed home protection companies by reinsurance or otherwise all or
substantially all of the risk of loss under all of the home protection contracts
written by it in this Commonwealth.
		&#8220;Home protection company&#8221; means any person who performs, or
arranges to perform, services pursuant to a home protection insurance contract.
		&#8220;Home protection insurance contract&#8221; or &#8220;contract&#8221;
means any insurance contract or agreement whereby a person undertakes for a
specified period of time and for a predetermined fee to furnish, arrange for or
indemnify for service, repair, or replacement of any and all of the structural
components, parts, appliances, or systems of any covered residential dwelling
necessitated by wear and tear, deterioration, inherent defect, or by the failure
of an inspection to detect the likelihood of failure.
		The contract shall provide for a system to effect repair or replacement if the
contract undertakes to provide for repair or replacement services. The contract
shall not include protection against consequential damage from the failure of
any structural component, part, appliance or system.
		&#8220;Structural component&#8221; means the roof, foundation, basement,
walls, ceilings, or floors of a home.

HISTORY: 1981, c. 530, §§ 38.1-932, 38.1-944; 1982, c. 132; 1986, c. 562;
2006, c. 634; 2017, c. 727.