Section 20. Definitions

The definition of "person" contained in § 38.2-501 of the Code of Virginia shall apply to this chapter and, in addition, where used in this chapter:

"Agent" means any individual, corporation, association, partnership or other legal entity authorized to represent an insurer with respect to a claim;

"Claim" means a demand for payment by a claimant and does not mean an inquiry concerning coverage;

"Claimant" means either a first party claimant, a third party claimant, or both, and includes such claimant's designated legal representative and includes a member of the claimant's immediate family designated by the claimant;

"Commission" means the State Corporation Commission of the Commonwealth of Virginia;

"First party claimant" means an individual, corporation, association, partnership or other legal entity asserting a right to payment under an insurance policy or insurance contract issued to such individual, corporation, association, partnership or other legal entity arising out of the occurrence of the contingency or loss covered by such policy or contract;

"Insurer" means a person licensed to issue or who issues any insurance policy or insurance contract in this Commonwealth and shall include surplus lines brokers;

"Investigation" means all activities of an insurer directly or indirectly related to the determination of liability and extent of loss under coverages afforded by an insurance policy or insurance contract;

"Notification of claim" means any notification, whether in writing or other means acceptable under the terms of the insurance policy or insurance contract, to an insurer or its agent, by a claimant, which reasonably apprises the insurer of the facts pertinent to a claim;

"Third party claimant" means any individual, corporation, association, partnership or other legal entity asserting a claim against any individual, corporation, association, partnership or other legal entity insured under an insurance policy or insurance contract of an insurer;

"Workers' Compensation insurance" includes, but is not limited to, Longshoremen's and Harbor Workers' Compensation.

Historical Notes

Derived from Regulation 12, Case No. 19961, § 3, eff. September 15, 1978.

Statutory Authority

§ 38.2-510 of the Code of Virginia.