§ 38.2-307. Charter and bylaw provisions in policies
No policy shall contain any provision purporting to make any portion of the charter, bylaws or other organic law of the insurer, however designated, a part of the contract unless that portion is set out in full in the policy. Any policy provision in violation of this section shall be invalid. 1952, c. 317, § […]
§ 38.2-304. Contracts of temporary insurance; duration; what deemed to include
A. Oral or written binders or other temporary insurance contracts may be made and used for a period not exceeding sixty days pending the issuance of the policy. Unless otherwise provided, oral or written binders or other temporary insurance contracts shall be deemed to include the usual provisions, stipulations and agreements which are commonly used […]
§ 38.2-305. Contents of policies
A. Each insurance policy or contract shall specify: 1. The names of the parties to the contract; 2. The subject of the insurance; 3. The risks insured against; 4. The time the insurance takes effect and, except in the case of group insurance, title insurance, and insurance written under perpetual policies, the period during which […]
§ 38.2-306. Additional contents
A policy or contract may contain additional provisions that are not substantially in conflict with this title and that: 1. Are required to be inserted by the laws of the insurer’s state or country of domicile or of the state or country in which the policy is to be delivered or issued for delivery; or […]
§ 38.2-301. Insurable interest required; life, accident and sickness insurance
A. Any individual of lawful age may take out an insurance contract upon himself for the benefit of any person. No person shall knowingly procure or cause to be procured any insurance contract upon another individual unless the benefits under the contract are payable to (i) the insured or his personal representative or (ii) a […]
§ 38.2-302. Life, accident, and sickness insurance; application required
A. No contract of insurance upon a person shall be made or effectuated unless at the time of the making of the contract the individual insured, being of lawful age and competent to contract for the insurance contract, (i) applies for insurance or (ii) consents in writing to the insurance contract. However: 1. Either spouse […]
§ 38.2-303. Insurable interest required; property insurance
A. No insurance contract on property or on any interest therein or arising therefrom shall be enforceable except for the benefit of persons having an insurable interest in the property insured. B. As used in this section, “insurable interest” means any lawful and substantial economic interest in the safety or preservation of the subject of […]
§ 38.2-300. Scope of chapter
This chapter shall apply to all classes of insurance except: 1. Ocean marine insurance other than private pleasure vessels; 2. Life insurance policies and accident and sickness insurance policies not delivered or issued for delivery in this Commonwealth; 3. Contracts of reinsurance; or 4. Annuities, except as provided for in §§ 38.2-305, 38.2-316 and 38.2-321. […]