The provisions of section 220 of this title shall not apply to reinsurance contracts between insurers, to life or disability insurances, or to insurance contracts— (1) issued as a surplus line under section 653 of this title, or exempted under section 666 of this title; (2) covering the rolling stock, vessels, or aircraft of any […]
(a) Each authorized insurer shall annually, before the 31st day of March, file with the Commissioner a true statement of its financial condition, transactions, and affairs as at the 31st day of December preceding. The statement shall be on forms and shall contain information as required by this title and by the Commissioner, and shall […]
Every insurer shall keep full and adequate accounts and records of its assets, obligations, transactions, and affairs.
(a) No insurer shall withdraw from this territory until its direct liability to its policyholders and obligees under all its insurance contracts then in force in this territory has been assumed by another authorized insurer under an agreement approved by the Commissioner. In the case of a life insurer, its liability pursuant to contracts issued […]
No credit shall be allowed to any insurer, as an asset or as a deduction from liability for reinsurance ceded to an alien insurer, other than under a contract of ocean marine insurance, covering a subject of insurance resident, located, or to be performed in this territory unless the alien insurer— (1) is authorized to […]
(a) An insurer appointing any person as its general agent or manager to represent it as such in this territory shall file notice of the appointment with the Commissioner on forms prescribed and furnished by the Commissioner. (b) Any such general agent or manager shall have such authority, consistent with this title, as may be […]
(a) Each authorized insurer shall promptly report to the Commissioner, upon forms as prescribed and furnished by him, each fire loss of property in this territory reported to it and of undetermined origin. (b) As may be requested by the Commissioner, each such insurer shall likewise report to him upon claims paid by it for […]
(a) Effective 90 days after February 24, 1984, insurance companies doing business in the Virgin Islands shall have thirty (30) calendar days from the date on which an agreement to settle is signed or a proof of claim has been filed, whichever comes last, to make payment of all sums due under an insurance policy. […]
(a) Any insurer providing a person with motor vehicle insurance coverage shall permit the person to pay any premium with respect to such coverage in semi-annual payments. (b) Any insurer who fails to comply with subsection (a) of this section may, upon complaint to the Commissioner of Insurance, have its license to sell insurance suspended […]
(a) Each domestic, foreign and alien insurer who is authorized to transact insurance in the Territory shall on or before March 1 of each year, file with the NAIC, a copy of its annual statement convention blank, along with such additional filings, including any quarterly statement filings, as prescribed by the Commissioner for the preceding […]
In the absence of actual malice, members of the NAIC, their duly authorized committees, sub-committees, and task forces, their delegates, NAIC employees, and all others charged with the responsibility of collecting, reviewing, analyzing and disseminating the information developed from the filing of the annual statement convention blanks shall be acting as agents of the Commissioner […]
All financial analysis ratios and examination synopses concerning insurance companies that are submitted to the Division by the NAIC Insurance Regulatory Information System are confidential and may not be disclosed by the Insurance Division.
