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Virginia Administrative Code (Last Updated: January 10, 2017) |
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Title 14. Insurance |
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Agency 5. State Corporation Commission, Bureau of Insurance |
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Chapter 360. Rules Governing Local Government Group Self-Insurance Pools |
Section 140. Termination of pool members
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A. A member who fails to make timely contribution payments as provided by the board may be terminated after 10 days written notice has been given to the member and the commission. A member can be terminated without cause after 30 days written notice has been given to the member.
B. For workers' compensation liability, no member agreement shall be cancelled or nonrenewed except on 30 days notice to the member and the Workers' Compensation Commission, unless the member has obtained other insurance and the Workers' Compensation Commission is notified of that fact by the insurer assuming the risk, or unless, in the event of cancellation, said cancellation is for nonpayment of contributions; then 10 days notice shall be given the member and the Workers' Compensation Commission.
C. The pool shall remain liable for all claims applicable to the period during which the political subdivision was a member of the pool, including the period required for termination of membership.
Historical Notes
Derived from Regulation 30, Case No. INS870057, § 6, eff. September 1, 1987; amended, Volume 26, Issue 14, eff. March 1, 2010.