                                 CODE OF VIRGINIA

DEFINITIONS (§ 38.2-2900)

As used in this chapter:
		&#8220;Association&#8221; means the joint underwriting association established
pursuant to the provisions of this chapter.
		&#8220;Commercial liability insurance&#8221; means the commercial classes of
insurance defined in §§ 38.2-117 and 38.2-118, but for the purposes of this
chapter, does not include medical malpractice insurance as defined in §
38.2-2800, nuclear liability or any risks, lines, or subclassifications that are
determined by the Commission to be uninsurable; provided, no such determination
shall be based solely upon evidence that no insurers are then insuring such
risk, line, or subclassification. The Commission may exclude from this
definition any other line, subclassification or type of commercial liability
insurance as it deems appropriate.
		&#8220;Incidental coverage&#8221; means any other type of liability insurance
covering activities directly related to the continued and efficient delivery of
business and professional services that: (i) cannot be separately obtained in
the voluntary market because commercial liability insurance is being provided
pursuant this chapter; and (ii) cannot be separately obtained through other
involuntary market mechanisms.
		&#8220;Market assistance plan&#8221; means a voluntary association of insurers
and insurance agents licensed to do business in the Commonwealth that is formed,
pursuant to a plan of operation filed with and approved by the Commission, to
assist with the individual placement of commercial liability insurance coverage
that is not reasonably available on the voluntary market.
		&#8220;Net direct premiums written&#8221; means gross direct premiums written
in this Commonwealth on all policies of liability insurance less (i) all return
premiums on the policy, (ii) dividends paid or credited to policyholders, and
(iii) the unused or unabsorbed portions of premium deposits on liability
insurance. For the purposes of this chapter, &#8220;liability insurance&#8221;
means the classes of insurance defined in §§ 38.2-117 through 38.2-119, and
the liability portions of the insurance defined in §§ 38.2-124, 38.2-125 and
38.2-130 through 38.2-132.

HISTORY: 1988, cc. 769, 783.