                                 CODE OF VIRGINIA

SUPPLEMENTAL PROVISIONS; RULES; EXEMPTION (§ 38.2-5509)

A. The provisions of this Act are supplemental to any other provisions of the
laws of this Commonwealth, and shall not preclude or limit any other powers or
duties of the Commission, the Commissioner of Insurance, or any of the
Commission&#8217;s employees or agents under such laws, including, but not
limited to, the provisions of &#xA7;&#xA7; 38.2-1038 and 38.2-1040, subdivision
A 7 of &#xA7; 38.2-4316, and Chapter 15 (&#xA7; 38.2-1500 et seq.) and any
regulations issued thereunder.

B. The Commission may adopt reasonable rules necessary for the implementation of
this Act.

C. The Commission may exempt from the application of this Act any domestic
property and casualty insurer which:

   1. Writes direct business only in this Commonwealth;

   2. Writes direct annual premiums of $2 million or less; and

   3. Assumes no reinsurance in excess of five percent of direct premium written.

D. The Commission may exempt from the application of this Act an insurer
organized and operating under the laws of this Commonwealth and licensed
pursuant to the provisions of Chapter 25 (&#xA7; 38.2-2500 et seq.).

E. The Commission may exempt from the application of this Act a domestic health
organization that writes direct business only in this Commonwealth and assumes
no reinsurance in excess of five percent of direct premium written, and either
(i) writes direct annual premiums of two million dollars or less for
comprehensive medical coverages or (ii) is licensed pursuant to Chapter 45
(&#xA7; 38.2-4500 et seq.) and covers less than 2,000 lives. As used in this
subsection, &#8220;comprehensive medical coverages&#8221; means contracts
providing basic health care services and Medicare and Medicaid risk coverages or
policies providing hospital, surgical, major medical, Medicare risk and Medicaid
risk coverages. Medicare supplement need not be included and premiums for
administrative services shall not be included.

HISTORY: 1995, c. 789; 2000, c. 47; 2018, c. 706.