Section 10. Scope

Latest version.

The provisions of this chapter shall apply to all policies of liability insurance, as defined in §§ 38.2-117, 38.2-118, and subsection B of § 38.2-111 of the Code of Virginia, that limit the time allowed for reporting claims arising out of injury, damage, or wrongful act or omission covered by the policy. Any such policy shall be deemed to be a claims-made liability insurance policy for purposes of this chapter. The provisions of this chapter shall apply to all claims-made liability insurance policies delivered or issued for delivery in the Commonwealth to become effective on or after January 1, 2005.

Historical Notes

Derived from Volume 20, Issue 21, eff. January 1, 2005.

Statutory Authority

§§ 12.1-13, 38.2-223 and 38.2-2229 of the Code of Virginia.

                    
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