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WV Code § 33-20E-12 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 20E. West Virginia Medical Professional Liability Insurance Joint Underwriting Association Act|§33-20E-12. Issuance of Policy

(a) If an eligible applicant meets the underwriting standards and other requirements and conditions of the association as set forth in the approved plan of operation and there is no unpaid, uncontested premium, charge or assessment due from the applicant for any prior insurance of the same kind, the association, upon receipt of the premium, charge or assessment or a portion thereof as prescribed by the plan of operation, shall cause to be issued a policy of medical professional liability insurance. (b) The policy may not require as a condition precedent to settlement or compromise of any claim the consent or acquiescence of the policyholder.
WV Code § 33-20E-13 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 20E. West Virginia Medical Professional Liability Insurance Joint Underwriting Association Act|§33-20E-13. Rates; Initial Filing; Basis for Rates and Premiums

(a) The rates, rating plans, rating rules and rating classifications applicable to insurance written by the association are subject to the provisions of article twenty-b of this chapter. Policy forms applicable to insurance written by the association must conform to the requirements of the provisions of section eight, article six of this chapter.(b) Within such time as the commissioner shall direct, the association shall submit an initial filing, in proper form, of policy forms, classifications, rates, rating plans, and rating rules applicable to medical professional liability insurance. Rates approved by the state board pursuant to section eight of this article shall remain in effect until the association's initial filing is approved.(c) In the event the commissioner disapproves the initial filing, in whole or in part, the association shall amend the filing, in whole or in part, in accordance with the direction of the commissioner.(d) Initial rates and premiums are to be set in consideration of the past and prospective loss and expense experience for insurers writing medical professional liability insurance within this state.(e) After the initial year of operation, the board shall obtain and implement, at least annually, from an independent outside source, such as a medical liability actuary or a rating organization experienced with the medical liability line of insurance, written rating plans upon which premiums shall be based. The resultant premium rates must be arrived at on an actuarially sound basis and must be calculated to be self-supporting.(f) The rates and premiums charged for insurance policies issued pursuant to this article shall not be deemed excessive because they contain an amount reasonably calculated to recoup a deficit of the association pursuant to section sixteen of this article.
WV Code § 33-20E-14 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 20E. West Virginia Medical Professional Liability Insurance Joint Underwriting Association Act|§33-20E-14. The Medical Professional Liability Insurance Fund; Capitalization; Transfer of Assets and Liabilities to Board of Directors

(a) There is hereby established a special revenue fund, to be known as the "medical professional liability insurance fund," into which any initial capital, surplus or premiums or assessments charged and collected by the state board under the provisions of the interim plan shall be deposited.(b) A portion of the association's initial capital and surplus may be provided by the Legislature, in an amount, upon terms and conditions, and from sources as may be determined by the Legislature in its sole discretion.(c) Upon approval of the final plan of operation by the commissioner, the state board shall transfer the assets and liabilities of the association to the board of directors.
WV Code § 33-20E-15 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 20E. West Virginia Medical Professional Liability Insurance Joint Underwriting Association Act|§33-20E-15. Deposit of Funds; Investments; Premium Tax Liability; State Not Responsible for Liabilities or Expenses of Association

(a) The board shall deposit all sums transferred from the state board into an account of the association as specified in the final plan of operation.(b) The board may invest sums from the association's account. Any interest earned on investments or any profit generated by collection of premiums or other means shall be returned to the association's account for the purpose of implementing this article.(c) The association is liable for premium taxes to the same extent and in the same manner as a licensed insurer engaged in transacting insurance in this state.(d) The state is not responsible for any costs, expenses, liabilities, judgments, or other obligations of the association.
WV Code § 33-20E-16 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 20E. West Virginia Medical Professional Liability Insurance Joint Underwriting Association Act|§33-20E-16. Deficit; Recoupment; Assessments; Reimbursement of Members

(a) A deficit sustained by the association in any one calendar year may be recouped, pursuant to the plan of operation then in effect, by one or more of the following procedures:(1) A contribution from a reserve fund, if any, until the same is exhausted;(2) An assessment upon the member insurers;(3) A prospective rate increase.(b) In the event the board opts to assess the member insurers, each member shall be responsible for the proportion of the deficit its net direct written premiums for the preceding year bear to the aggregate net direct premiums written by all members in the preceding calendar year. Net direct written premiums subject to the provisions of article twenty-a of this chapter shall not be considered in determining a member insurer's proportional share of the deficit. A member insurer may not be assessed in any year an amount greater than two percent of its net direct written premiums for the preceding calendar year.(c) The assessment of a member insurer may be ordered deferred, in whole or in part, upon application by the insurer if the commissioner determines that payment of the assessment may render the insurer insolvent or in danger of insolvency or otherwise seriously impair the financial stability of the member insurer.(d) After the deficit which necessitated the assessment has been recouped, each member insurer shall be entitled to reimbursement of any assessment through a credit against the premium taxes imposed by sections fourteen and fourteen-a, article three of this chapter, in equal amounts per year for three successive years following the assessment. At the option of the member insurer, the premium tax credit may be taken over an additional number of years. The tax credit established under this subsection shall be applicable only to General Revenue Funds.(e) A member insurer may not impose a policy surcharge on any policyholder of the member insurer for any assessment paid by the member insurer pursuant to subsection (b) of this section or otherwise refer to the assessment paid by the member insurer in any billing statement or notice provided to any policyholder of the member insurer. Nothing in this section shall prohibit a member insurer from treating any assessment payments as an expense of the member insurer for all purposes.
WV Code § 33-20E-17 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 20E. West Virginia Medical Professional Liability Insurance Joint Underwriting Association Act|§33-20E-17. Commissioner to Report to Board Termination of Authority to Transact Insurance

If the authority of a member to transact insurance in this state terminates for any reason, the commissioner shall notify the board.
WV Code § 33-20E-18 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 20E. West Virginia Medical Professional Liability Insurance Joint Underwriting Association Act|§33-20E-18. Examination of Association

The association shall be subject to examination and regulation by the commissioner.
WV Code § 33-20E-19 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 20E. West Virginia Medical Professional Liability Insurance Joint Underwriting Association Act|§33-20E-19. Annual Statements

The association shall file in the office of the commissioner, on or before March 30 of each year, a statement containing information with respect to its transactions, condition, operations, and affairs during the preceding calendar year. The commissioner shall prescribe the matters and information to be contained in and the form of the annual statement. The commissioner may, at any time, require the association to furnish additional information with respect to its transactions, condition, or any matter connected therewith considered to be material and of assistance in evaluating the scope, operation, and experience of the association.
WV Code § 33-20E-20 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 20E. West Virginia Medical Professional Liability Insurance Joint Underwriting Association Act|§33-20E-20. Immunity

There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer, the association, the board, the commissioner or their agents or employees for any action taken by them in the exercise and performance of their powers and duties under this article or for any statements made in good faith by them in any reports or communications, concerning risks insured or to be insured by the association, or at any administrative hearings conducted in connection therewith.
WV Code § 33-20E-21 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 20E. West Virginia Medical Professional Liability Insurance Joint Underwriting Association Act|§33-20E-21. Operative Date

The provisions of this article may only become operable upon the passage of a resolution by the Legislature. Any policies written under this article may have an effective date retroactive to the operative date.
WV Code § 33-21-1 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 21. Reciprocal Insurers|§33-21-1. Scope of Article

This article applies to reciprocal insurers and reciprocal insurance. Foreign and alien reciprocal insurers shall be governed by all provisions of this article not expressly made applicable only to domestic reciprocal insurers, and domestic reciprocal insurers shall be governed by all the provisions of this article.
WV Code § 33-21-2 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 21. Reciprocal Insurers|§33-21-2. General Laws Applicable

Except as otherwise provided, and except where the context clearly requires otherwise, all the provisions of this chapter relating to insurers generally, and all the provisions of this chapter relating to insurers transacting the same kinds of insurance which reciprocal insurers are permitted to transact, are applicable to reciprocal insurers, except that article twelve of this chapter shall not apply to reciprocal insurers.
WV Code § 33-21-3 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 21. Reciprocal Insurers|§33-21-3. Kinds of Insurance

A reciprocal insurer, upon being licensed therefor as provided in this article, when possessed of and maintaining on deposit surplus funds equal to the minimum capital required of a stock insurer to transact like kinds of insurance, may transact fire, marine, casualty or surety insurance, and may purchase reinsurance upon the risk of any subscriber, and may grant reinsurance as to any kind of insurance it is licensed to transact direct. No reciprocal insurer shall be licensed to transact, nor shall any reciprocal insurer transact, life or accident and sickness insurance.
WV Code § 33-21-4 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 21. Reciprocal Insurers|§33-21-4. Name

A reciprocal insurer shall have and use a business name, which shall include the word "reciprocal," or "interinsurer," or "interinsurance," or "exchange," or "underwriters," or "underwriting," in which name such insurer may sue and be sued.
WV Code § 33-21-5 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 21. Reciprocal Insurers|§33-21-5. Attorney

Attorney, as used in this article, refers to the attorney- in-fact of a reciprocal insurer, and such attorney may be an individual, firm or corporation.
WV Code § 33-21-6 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 21. Reciprocal Insurers|§33-21-6. Application for License

A reciprocal insurer desiring to transact insurance may apply to the commissioner for a license. The attorney shall execute under his oath and file with the commissioner such application setting forth:(a) The name of the insurer;(b) The location of the insurer's principal office, which shall be the same as that of the attorney, and in the case of a domestic reciprocal insurer shall be maintained within this state;(c) The kinds of insurance proposed to be transacted;(d) The designation and appointment of the proposed attorney and a copy of the power of attorney;(e) The names and addresses of the officers and directors of the attorney, if a corporation, or its members, if a firm;(f) In the case of a domestic reciprocal insurer, the powers of the subscribers' advisory committee, and in the case of domestic, foreign or alien reciprocal insurers, the names and terms of office of the members thereof;(g) In the case of a domestic reciprocal insurer that all moneys paid to the reciprocal shall, after deducting therefrom any sum payable to the attorney, be held in the name of the insurer and for the purposes specified in the subscribers' agreement;(h) A copy of the subscribers' agreement;(i) A statement of the financial condition of the insurer, a schedule of its assets, and a statement that the surplus as required by section three of this article is on hand;(j) A copy of each policy, endorsement, and application form it then proposes to issue or use;(k) In the case of a foreign or alien reciprocal insurer a statement from the insurance supervisory official of its state of domicile or entry that it is licensed in such state to transact the kinds of insurance it proposes to transact in West Virginia;(l) In the case of a domestic reciprocal insurer, the names and addresses of the original subscribers who must number at least twenty-five;(m) In the case of a domestic reciprocal insurer, a statement that each of the original subscribers has in good faith applied for insurance of a kind proposed to be transacted, and that the insurer has received from each such subscriber the full premium or premium deposit required for the policy applied for, for a term of not less than six months at an adequate rate theretofore filed with and approved by the commissioner;(n) Such other information as the commissioner deems necessary.
WV Code § 33-21-7 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 21. Reciprocal Insurers|§33-21-7. Issuance of License; Suspension, Revocation or Renewal

The license of a reciprocal insurer shall be issued to its attorney in the name of the insurer and may be suspended, revoked or renewal refused in the same manner and upon the same grounds as other insurers.
WV Code § 33-21-8 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 21. Reciprocal Insurers|§33-21-8. Power of Attorney

(a) The rights and powers of the attorney of a reciprocal insurer shall be as provided in the power of attorney given it by the subscribers, which power of attorney must set forth:(1) The powers of the attorney;(2) That the attorney is empowered to accept service of process on behalf of the insurer;(3) The general services to be performed by the attorney;(4) The maximum amount to be deducted from advance premiums or deposits to be paid to the attorney and the general items of expense in addition to losses, to be paid by the insurer;(5) Except as to nonassessable policies, a provision for a contingent several liability of each subscriber in a specified amount, which amount shall be not less than one nor more than ten times the annual premium or premium deposit stated in the policy.(b) The power of attorney may:(1) Provide for the right of substitution of the attorney and revocation of the power of attorney and rights thereunder;(2) Impose such restrictions upon the exercise of the power as are agreed upon by the subscribers;(3) Provide for the exercise of any right reserved to the subscribers directly or through their advisory committee;(4) Contain other lawful provisions deemed advisable.(c) The terms of any power of attorney or agreement collateral thereto shall be reasonable and equitable.
WV Code § 33-21-9 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 21. Reciprocal Insurers|§33-21-9. Modification of Subscribers' Agreement or Power of Attorney

Modification of the terms of the subscribers' agreement or of the power of attorney of a domestic reciprocal insurer shall be made jointly by the attorney and the subscribers' advisory committee. No modification of a domestic, foreign or alien reciprocal insurer's power of attorney or subscribers' agreement shall be effective retroactively, nor as to any insurance contract issued prior thereto, and such modification shall be reasonable and equitable, and shall be filed with the commissioner.
WV Code § 33-21-10 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 21. Reciprocal Insurers|§33-21-10. Attorney's Bond

(a) Concurrently with the filing of the application provided for in section six of this article, the attorney of a domestic reciprocal insurer shall file with the commissioner a bond in favor of the State of West Virginia for the benefit of all persons damaged as a result of breach by the attorney of the conditions of his bond as set forth in paragraph (b) of this section. The bond shall be executed by the attorney and by an authorized corporate surety, and shall be subject to the commissioner's approval.(b) The bond shall be in the penal sum of $25,000, aggregate in form, conditioned that the attorney will faithfully account for all moneys and other property of the insurer coming into his hands, and that he will not withdraw or appropriate to his own use from the funds of the insurer, any moneys or property to which he is not entitled under the power of attorney.(c) The bond shall provide that it is not subject to cancellation unless thirty days' advance notice in writing of cancellation is given both the attorney and the commissioner.(d) In lieu of such bond, the attorney may maintain on deposit with the State Treasurer through the office of the commissioner a like amount in cash or in value of securities qualified under this chapter as insurers' deposit investments, and subject to the same conditions as the bond.(e) Action on the attorney's bond or to recover against any such deposit made in lieu thereof may be brought at any time by one or more subscribers suffering loss through a violation of its conditions, or by a receiver or liquidator of the insurer. Amounts recovered on the bond shall be deposited in and become part of the insurer's funds. The total aggregate liability of the surety shall be limited to the amount of the penalty of such bond.
WV Code § 33-21-11 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 21. Reciprocal Insurers|§33-21-11. Annual Report

(a) The annual report of a reciprocal insurer shall be made and filed by its attorney.(b) The report shall be supplemented by such information as may be required by the commissioner relative to the affairs and transactions of the attorney insofar as they pertain to the reciprocal insurer.
WV Code § 33-21-12 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 21. Reciprocal Insurers|§33-21-12. Process and Venue; Annual Fee

(a) Concurrently with the filing of the application provided for by the terms of section six of this article, the attorney shall file with the commissioner an instrument in writing, executed by him for said subscribers, conditioned that upon the issuance of the license provided for in section seven of this article any action, suit or other proceeding arising out of any insurance contract or policy issued under such license, may be brought in the county of this state wherein the property insured was situated either at the date of the policy or at the time when the right of action accrued, or in the county of this state wherein the person insured had a legal residence at the date of his death or at the time the right of action accrued, and that service of any process or notice may be had upon the Secretary of State in all actions, suits or other proceedings in this state arising out of such policies, contracts, agreements or other business of insurance transacted under such license, and that said Secretary of State may accept service of any such process or notice.(b) Such service or acceptance of service shall be valid and binding upon the attorney and upon all subscribers exchanging at any time reciprocal or interinsurance contracts through the attorney. Two copies of such process or notice, in addition to the original, shall be furnished the Secretary of State, and he shall file one copy, forward one copy to the attorney and return the original with his acceptance of service or for return of service. But no process or notice shall be served on the Secretary of State or accepted by him less than ten days before the return day thereof. Where the principal office of the attorney is located in this state, service of process may be had upon all subscribers by serving same upon the attorney at said office. Service of process shall not be had upon said subscribers or any of them in any suit or other proceeding in this state except in the manner provided in this section, and any action, suit, or other proceeding may be begun and prosecuted against or defended by them under the name or designation adopted by them.(c) The attorney shall pay to the Secretary of State an annual fee of $20.
WV Code § 33-21-13 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 21. Reciprocal Insurers|§33-21-13. Fees and Taxes

(a) The attorney for each reciprocal insurer shall pay on behalf of such insurer all fees and taxes prescribed by this chapter for other insurers transacting like kinds of insurance, except that the amount of the premium tax shall be computed upon the gross premiums on business transacted in this state less premiums returnable because of cancellation and less amounts returned to subscribers or credited to their accounts as savings.(b) In addition such attorney shall pay annually on behalf of such reciprocal insurer the fire marshal's tax provided by section twenty-four, article three, chapter twenty-nine of this code, to the extent such tax is applicable to the kinds of insurance transacted in this state by such reciprocal insurer.(c) No reciprocal insurer shall be liable for any taxes except those described in this section and property taxes upon real and personal property, unless reciprocal insurers be specifically mentioned in the law imposing such taxes.
WV Code § 33-21-14 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 21. Reciprocal Insurers|§33-21-14. Who May Be Subscribers

Individuals, partnerships, and corporations of this state may make application, enter into agreement for and hold policies or contracts in or with and be a subscriber of any domestic, foreign, or alien reciprocal insurer. Any public or private corporation now or hereafter created by or organized under the laws of this state shall, in addition to the rights, powers, and franchises specified in its articles of incorporation, have full power and authority as a subscriber to exchange insurance contracts through such reciprocal insurance. The right to exchange such contracts is hereby declared to be incidental to the purposes for which such corporations are organized and to be as fully granted as the rights and powers expressly conferred upon such corporations. Any officer, representative, trustee, receiver, or legal representative of any such subscriber shall be recognized as acting for or on its behalf for the purpose of such contract but shall not be personally liable upon such contract by reason of acting in such representative capacity.