§33-26A-1. Short Title
This article shall be known and may be cited as the "West Virginia Life and Health Insurance Guaranty Association Act."
§33-26A-10. Plan of Operation
(a) (1) The association shall submit to the commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable and equitable administration of the association. The plan of operation and any amendments thereto shall become effective upon the commissioner's written approval or unless he or she has not disapproved […]
§33-26A-11. Duties and Powers of Commissioner of Insurance
In addition to the duties and powers enumerated elsewhere in this article: (a) The commissioner shall: (1) Upon request of the board of directors, provide the association with a statement of the premiums in this and any other appropriate states for each member insurer;
§33-26A-12. Prevention of Insolvencies; Duties of Commissioner; Coordination With Board of Directors; Duties of the Board of Directors; Requested Examinations; Procedures and Reports
To aid in the detection and prevention of member insurer insolvencies or impairments: (a) It shall be the duty of the commissioner: (1) To notify the commissioners of all the other states, territories of the United States, and the District of Columbia within 30 days following the action taken or the date the action occurs, […]
§33-26A-13. Appointment of Special Deputy
The association may recommend a natural person to serve as a special deputy to act for the commissioner and under his or her supervision in the liquidation, rehabilitation or conservation of any member insurer.
§33-26A-14. Miscellaneous Provisions
(a) Nothing in this article shall be construed to reduce the liability for unpaid assessments of the insureds of an impaired or insolvent insurer operating under a plan with assessment liability. (b) Records shall be kept of all negotiations and meetings in which the association or its representatives are involved to discuss the activities of […]
§33-26A-15. Examination of Association; Annual Report
The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit to the commissioner, not later than May 1 of each year, a financial report for the preceding calendar year in a form approved by the commissioner and a report of its activities during the preceding calendar year.
§33-26A-16. Tax Exemptions
The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real property.
§33-26A-17. Immunity
There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer or its agents or employees, the association or its agents or employees, members of the board of directors, or the commissioner or his or her representatives, for any action or omission by […]
§33-26A-18. Stay of Court Proceedings; Reopening Default Judgments
All proceedings in which the impaired or insolvent insurer is a party in any court in this state shall be stayed one hundred eighty days from the date an order of liquidation, rehabilitation or conservation is final to permit proper legal action by the association on any matters germane to its powers or duties. As […]
§33-26A-19. Prohibited Advertisement of Insurance Guaranty Association Act in Insurance Sales; Notice to Policyholders
(a) A person, including a member insurer, agent, or affiliate of a member insurer, shall not make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in any newspaper, magazine, or other publication, or in the form of a notice, […]
§33-26A-2. Purpose of Article and Association of Insurers
(a) The purpose of this article is to protect, subject to certain limitations, the persons specified in §33-26A-3(a) of this code against failure in the performance of contractual obligations, under life, health, and annuity policies, plans, or contracts specified in §33-26A-3(b) of this code, because of the impairment or insolvency of the member insurer that […]
§33-26A-3. Scope of Article; Policies and Contracts Covered; Exclusions; Extent of Liability
(a) This article shall provide coverage for the policies and contracts specified in §33-26A-3(b) of this code: (1) To persons who, regardless of where they reside (except for nonresident certificate holders under group policies or contracts), are the beneficiaries, assignees, or payees, including health care providers rendering services covered under health insurance policies or certificates, […]
§33-26A-4. Construction of Article
This article shall be liberally construed to effect the purpose under section two of this article which shall constitute an aid and guide to interpretation.
§33-26A-5. Definitions
As used in this article: (1) “Account” means either of the two accounts created under §33-26A-6 of this code.
§33-26A-6. Creation of Association; Required Accounts; Supervision of Commissioner; Meetings and Records
(a) There is created a nonprofit legal entity to be known as the West Virginia Life and Health Insurance Guaranty Association. All member insurers shall be and remain members of the association as a condition of their authority to transact insurance or a health maintenance organization business in this state. The association shall perform its […]
§33-26A-7. Board of Directors; Members; Vacancies; Voting Rights; Appointment and Reimbursement
(a) The board of directors of the association shall consist of not less than seven nor more than 11 member insurers serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the commissioner. Vacancies on the board shall be filled […]
§33-26A-8. Powers and Duties of Association
(a) If a member insurer is an impaired insurer, the association may, in its discretion, and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer, that are approved by the commissioner: (1) Guarantee, assume, reissue, or reinsure, or cause to be guaranteed, assumed, reissued, or […]
§33-26A-9. Assessments
(a) For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers, separately for each account, at such time and for such amounts as the board finds necessary. Assessments shall be due not less than 30 days after prior […]