                                 CODE OF VIRGINIA

INSURER DELEGATION OF DUTIES (§ 38.2-3732)

Any insurer that delegates to a creditor any of its duties under the laws of
this Commonwealth or the regulations of this Commission shall be responsible to
see that such creditor discharges such duties in accordance with said laws and
regulations. A finding by the Commission that either the insurer or its delegee
has failed to comply with such requirements shall subject the insurer and
creditor to any and all disciplinary actions authorized under this title. Such
responsibility shall include but not be limited to a determination that:

1. Proper insurance rates are being charged by the creditor;

2. Proper refunds are being made;

3. Claims are being filed and properly handled;

4. Amounts of insurance payable on death in excess of the amounts necessary to
discharge indebtedness are properly distributed; and

5. The creditor is promptly and fairly processing complaints concerning its
credit insurance operations and is maintaining proper procedures for and records
of complaints processed.

HISTORY: 1992, c. 586.