§ 1725. Prompt payment by insurer
(a) Any insurer providing health insurance coverage shall be required to process and pay any uncontested claim, within thirty (30) calendar days from the date of receiving the claim. (b) If there is a contested claim, the insurer shall, within the same thirty (30) day calendar period notify the health care provider of its decision […]
§ 1692. Administrative fine in lieu of suspension or revocation of registration
(a) If the Commissioner finds that one or more grounds exist for the suspension of, revocation of, or refusal to renew or continue any registration issued under this chapter, the Commissioner may, in his discretion, in lieu of such suspension, revocation, or refusal, on a first offense and except when such suspension, revocation, or refusal […]
§ 1693. Disposition of taxes and fees
All license fees, taxes on premiums and assessments, registration fees, and administrative fines and penalties collected under this chapter from associations shall be deposited to the Insurance Guaranty Fund of the Treasury of the Government of the Virgin Islands.
§ 1694. Insurance business not authorized
Nothing in the Insurance Code or this chapter shall be deemed to authorize any ambulance service association to transact any business other than that of ambulance service contracts or to otherwise engage in any other type of insurance unless the association is authorized to do so under a certificate of authority issued by the Commissioner […]
§ 1695. Fronting not permitted
No insurer or ambulance service association shall act as a fronting company for any unauthorized insurer or ambulance service association. A “fronting company” is an insurer or ambulance service association which by reinsurance or otherwise, generally transfers to one or more unauthorized insurers or ambulance service associations, the risk of loss under ambulance service contracts […]
§ 1696. Certain ambulance service association relations with funeral directors prohibited
(a) No association shall permit any funeral director or undertaker, or any member of his immediate family, to directly or indirectly by association or incorporation act as the representative, adjuster, claim agent, special agent, sales representative, or agent for such association in soliciting, negotiating or effecting ambulance service contracts on any plan or of any […]
§ 1697. Penalty for violation
In addition to any applicable denial of, suspension of, revocation of, or refusal to renew any certificate of authority, any person who knowingly makes a false of otherwise fraudulent application for a certificate of authority or registration under this chapter, is guilty of a misdemeanor. Each instance of violation shall be considered a separate offense.
§ 1698. Investigatory records
All active investigatory records of the Commissioner made or received pursuant to this chapter, and any active examination records necessary to complete an active investigation, shall be confidential and shall not be subject to public inspection under the provisions of Title 3, chapter 881 of this code for so long as reasonably necessary to complete […]
§ 1721. Purpose
The Legislature of the Virgin Islands believes that many residents of the Virgin Islands who are covered by a recognized health insurance plan are nevertheless prevented from enjoying the benefits of such a plan by the high up-front cost of obtaining healthcare, and the prospect of having to wait for a reimbursement of those costs. […]
§ 1722. Definitions
(a) “Commissioner” means the Commissioner of Insurance. (b) “Health care provider” means a person, corporation, facility or institution who must be licensed by this territory to provide health care or professional medical services including but not limited to any physician, osteopath, hospital, dentist, registered or licensed practical nurse, optometrist, podiatrist, physical therapist, psychologist, chiropractor, par-medical […]