US Lawyer Database

§ 6607. License and Registration fees

(a) The following initial license application fees and initial annual license fees, subject to regulation and with full discretion of the SAM, must be charged by and collected by the SAM and deposited in the Alternative Market Revolving Fund: (1) Annual License Fees: (A) Qualified Manager: 5% of net revenue (gross revenues less expenses). (B) […]

§ 6608. Licensing; required information and documentation; fee; renewal

(a) The Qualified Manager, intermediary, broker, actuary or auditor when permitted by its articles of incorporation, articles of organization, operating agreement, or charter, may apply to the SAM for a license to do all alternative business. (b) To conduct asset securitization and insurance securitization business in this Territory, the Qualified Manager, intermediary broker, actuary and […]

§ 1902. Mandatory plan coverage

A health care insurer that offers, issues for delivery, delivers, executes, adjusts, uses, or renews a health care insurance plan shall provide coverage for the costs of telemedicine services and treatment that arc medically necessary.

§ 6601. Definitions

(a) As used in this chapter, unless the context requires otherwise: (1) “Actuary” means a person qualified as an actuary by examination of the Institute of Actuaries in England or the Faculty of Actuaries in Scotland Casualty Actuarial Society, or the Society of Actuaries in the United States of American or Canada. (2) “Advisory board” […]

§ 6602. Creation of alternative markets and international reinsurance section

There is established within the Office of the Commissioner of Insurance the Division of Alternative Markets and International Reinsurance. The Commissioner of Insurance, with the advice and consent of the Governor, shall appoint the SAM and determine the SAM’s compensation, and the SAM shall report to the Commissioner of Insurance.

§ 6603. Authority of the SAM

(a) The SAM may: (1) generally supervise the alternative market business being carried on in or from the Territory; (2) ensure compliance with and enforcement of the laws and regulations relating to the conduct of the alternative market businesses; (3) examine and prepare reports pursuant to section 6604 of this title from time to time […]

§ 1805. Exclusions

This subchapter does not apply to short-term travel, accident-only or limited or specified disease policies.

§ 1801. Definitions

For the purposes of this subchapter the term, (1) “Children” means persons under the under eighteen years of age, or under twenty-one years of age if still attending high school. (2) “Hearing aid” means durable medical equipment that is of a design and circuitry to compensate for impaired human hearing and optimize audibility and listening […]

§ 1802. Coverage for hearing aid

(a) An individual or group health insurance policy, health care plan or certificate of health insurance that is delivered, issued for delivery or renewed in the Virgin Islands must provide coverage for a hearing aid and any related services for the full cost of one hearing aid per hearing-impaired ear up to $2,200 per ear, […]

§ 1803. Additional coverage; benefits included

(a) An insurer that delivers, issues for delivery or renews in the Virgin Islands an individual or group health insurance policy, health care plan or certificate of health insurance may make available to the policyholder the option of purchasing additional hearing aid coverage that exceeds the services described in this section. (b) Hearing aid coverage […]