Code of Virginia (Last Updated:July 28, 2020) |
TITLE 38.2. Insurance |
CHAPTER 13. Reports, Reserves and Examinations, Insurance Holding Companies, Reinsurance Intermediaries, and Managing General Agents |
ARTICLE 3. Reserves |
SECTION 38.2-1313. Loss records |
Each insurer licensed to transact business in this Commonwealth shall, except for accident and sickness insurance as defined in § 38.2-109 , maintain a complete and itemized record showing all losses and claims for which notice has been given. When necessary, the insurers shall maintain a record of all notices received of the occurrence of any event that may result in a loss. 1952, c. 317, § 38.1-172; 1986, c. 562. |