Source: https://vacode.org/38.2-218/
Timestamp: 2020-01-26 11:41:01
Document Index: 555975712

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Penalties and restitution payments (§ 38.2-218)—Virginia Decoded - Virginia Decoded
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§ 38.2-218 Penalties and restitution payments
§ 38.2-218
Penalties and restitution payments
A. Any person who knowingly or willfully violates any provision of this title or any regulation issued pursuant to this title shall be punished for each violation by a penalty of not more than $ 5,000.
B. Any person who violates without knowledge or intent any provision of this title or any rule, regulation, or order issued pursuant to this title may be punished for each violation by a penalty of not more than $ 1,000. For the purpose of this subsection, a series of similar violations resulting from the same act shall be limited to a penalty in the aggregate of not more than $ 10,000.
C. Any violation resulting solely from a malfunction of mechanical or electronic equipment shall not be subject to a penalty.
D. 1. The Commission may require a person to make restitution in the amount of the direct actual financial loss:
a. For charging a rate in excess of that provided by statute or by the rates filed with the Commission by the insurer;
b. For charging a premium that is determined by the Commission to be unfairly discriminatory, such restitution being limited to a period of one year from the date of determination;
c. For failing to pay amounts explicitly required by the terms of the insurance contract where no aspect of the claim is disputed by the insurer; and
d. For improperly withholding, misappropriating, or converting any money or property received in the course of doing business.
2. The Commission shall have no jurisdiction to adjudicate controversies growing out of this subsection regarding restitution among insurers, insureds, agents, claimants and beneficiaries.
E. The provisions provided under this section may be imposed in addition to or without imposing any other penalties or actions provided by law.
Code 1950, § 38-24; 1952, c. 317, § 38.1-40; 1986, c. 562; 2010, c. 226.
If you’re reading this for anything important, you should double-check its accuracy—read § 38.2-218 on the official Code of Virginia website.
. . . Food Lion, Incorporated v. S. L. Nusbaum Insurance Agency, . . . (Court of Appeals for the Fourth Circuit, 01/12/00)
. . . effecting, or (ii) punished in §§ 38.2-218 and 38.21831, or (iii) subject to both (i) and . . .
. . . Bettius & Sanderson, P.C. v. National Union Fire Insurance . . . (Court of Appeals for the Fourth Circuit, 04/26/88)
. . . this opinion. See Va.Code Secs. 38.2-510(6); 38.2-218; and 38.2-209 . . .
Ambrose v. Blue Cross & Blue Shield of Virginia (District Court, E.D. Virginia, 06/27/95)
. . . All of those violations are punishable under § 38.2-218 ($5,000 per knowing violation; $1,000 per . . .
Ryder Truck Rental, Inc. v. UTF Carriers, Inc. (District Court, W.D. Virginia, 02/19/92)
. . . of the Unfair Insurance Practices Act, id. §§ 38.2-218, -510. . . .
Food Lion Inc v. S. L. Nusbaum (Court of Appeals for the Fourth Circuit, 01/12/00)
. . . ing, or effecting, or (ii) punished in §§ 38.2-218 and 38.2- . . .
Breault v. Berkshire Life Ins. Co. (District Court, E.D. Virginia, 04/30/93)
. . . for violating § 38.2-3502 are set forth in §§ 38.2-218 and 38.2-219. Thus, while Berkshire may . . .
. . . and revoke insurance licenses. See Va.Code §§ 38.2-218-38.2-220. The Commission may also impose, . . .
§ 38.2-1356 Penalties and liabilities; grounds for placing on probation, refusal to issue or renew, revocation, or suspension of license
§ 38.2-1363 Penalties and liabilities; grounds for placing on probation, refusal to issue or renew, revocation, or suspension of license
§ 38.2-1802 Acting as agent for unlicensed insurer prohibited; penalties
§ 38.2-1823 Penalty for acting for insurer, joint underwriting association, etc., when not licensed
§ 38.2-1831 Grounds for placing on probation, refusal to issue or renew, revocation, or suspension of license
§ 38.2-1832 Refusal to issue and revocation of license; hearing; new application
§ 38.2-1835 Failure to appoint
§ 38.2-1843 Grounds for placing on probation, refusal to issue or renew, revocation or suspension of license
§ 38.2-1844 Refusal to issue and revocation of license; hearing; new application
§ 38.2-1845.10 Grounds for placing on probation, refusal to issue or renew, revocation, or suspension of license
§ 38.2-1845.11 Termination, suspension, or revocation of license
§ 38.2-1845.7 Refusal to issue; hearing; new application
§ 38.2-1857.7 Grounds for placing on probation, refusal to issue or renew, revocation, or suspension of license
§ 38.2-1857.8 Refusal to issue and revocation of license; hearing; new application
§ 38.2-1865.3 Refusal to issue and revocation of license; hearing; new application
§ 38.2-1916.1 Investigation by Attorney General of suspected violations; investigative demand to witnesses; access to business records, etc.; penalties
§ 38.2-1916.2 Penalties; injunctive relief; restitution
§ 38.2-2505 Risks limited to those specified in this chapter; personal liability for loss
§ 38.2-3103 Fraudulent procurement of policy; penalty
§ 38.2-3319.2 Review of records
§ 38.2-3403 Fraudulent procurement of policy
§ 38.2-3407.3 Calculation of cost-sharing provisions
§ 38.2-3459 Grounds for termination, placing on probation, revocation, or suspension of registration
§ 38.2-3523.1 Review of records
§ 38.2-3564 Binding nature of external review decision
§ 38.2-4134 Penalties
§ 38.2-4307 Annual statement
§ 38.2-4814 Penalties
§ 38.2-4932 Penalties
§ 38.2-704 Penalties