reglab/housing_qa huggingface dataset:
WV Code § 33-6C-7 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 6C. Guaranteed Loss Ratios as Applied to Individual Sickness and Accident Insurance Policies|§33-6C-7. Rejection of Guarantees; Notice; Hearing

 (a) The Insurance Commissioner may reject any loss ratio guarantee filed by an insurer within sixty days from the date on which it was filed for any of the following reasons:(1) The insurer has demonstrated an inability to adequately monitor its loss ratios;(2) The insurer has failed to take timely rate increases in accordance with sound actuarial principles during the three-year period prior to filing the loss ratio guarantee;(3) The insurer has not complied with the terms of a previously filed loss ratio guarantee;(4) The insurer has submitted false, misleading or fraudulent material or information to the commissioner;(5) The insurer is impaired, insolvent or such other similar financial condition as defined in article ten or any other article of this chapter; or(6) Such other criteria as the commissioner, by legislative rule or regulation, may determine is appropriate.(b) The Insurance Commissioner may reject or cancel any loss ratio guarantee filed by an insurer which had been previously approved if, upon review and investigation, the commissioner determines that the insurer has not complied with the provisions of the guarantee or this article.(c) In the event a newly submitted loss ratio guarantee is rejected, the commissioner shall, within sixty days after the date the loss ratio guarantee was filed, mail notice of the rejection to the insurer. In the event an existing or previously approved loss ratio guarantee is cancelled, the commissioner shall mail notice of the rejection or cancellation to the insurer within fifteen days of the decision to cancel. In either situation, the insurer may, within ten days of being notified of its rejection or cancellation, request a hearing before the commissioner, which hearing shall be held within forty-five days from the date the request is made.
WV Code § 33-6D-1 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 6D. Motor Vehicle Repair and Replacement Referrals|§33-6D-1. Required Use of Particular Companies or Locations Providing Automobile Glass Replacement or Repair Services or Products Prohibited

No insurer issuing or renewing in this state any motor vehicle insurance policy, nor any agent or adjuster thereof, may require the insured or any person making a claim under such policy to use a particular company or location to obtain automobile glass replacement or repair services or products insured, in whole or in part, by that policy.
WV Code § 33-6D-2 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 6D. Motor Vehicle Repair and Replacement Referrals|§33-6D-2. Intimidation, Coercion and Other Acts Prohibited; Permissive Agreements

No such insurer, agent or adjuster may engage in any act or practice of intimidation, coercion or threat for or against any such insured or claimant to use a particular company or location to obtain automobile glass replacement or repair services or products covered, in whole or in part, by the insurance policy: Provided, That nothing contained in this article shall prohibit an insurer, agent or adjuster from entering into an agreement or arrangement with any company regarding automobile glass prices or services for the repair or replacement of automobile glass.
WV Code § 33-6D-3 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 6D. Motor Vehicle Repair and Replacement Referrals|§33-6D-3. Permissible Referrals; Freedom of Choice; Payment of Costs at Prevailing Market Rates

(a) Nothing contained in this article prohibits any insurer, agent or adjuster from providing to an insured or claimant a list that includes the names of automobile glass companies or locations that are reasonably close and convenient to the insured or claimant, and with which the insurer may have made special arrangements with respect to automobile glass prices or services.(b) If an insurer, agent or adjuster provides an insured or claimant with a list of automobile glass companies or locations, such insurer, agent or adjuster shall advise the insured or claimant that he or she may use any other automobile glass company or location of his or her choice.(c) All insurers shall fully and promptly pay the cost of automobile glass replacement or repair services or products from any nonlisted automobile glass company or location, less any applicable deductible amount payable by the insured according to the terms of the insurance policy, at no less than the prevailing market price charged by other automobile glass companies or locations providing comparable services or products in the same geographic area within the state.(d) No automobile glass company or location may waive insurance deductibles or offer rebates, discounts or other incentives for automobile glass repair which is being reimbursed by insurance. An insurer may limit payment of all glass claims to a glass company or location that has violated this provision to the lowest competitive price. The glass company or location may not seek reimbursement for any amounts not paid directly from the insured or claimant.
WV Code § 33-6F-1 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 6F. Disclosure of Nonpublic Personal Information|§33-6F-1. Privacy; Rules

(a) No person shall disclose any nonpublic personal information contrary to the provisions of Title V of the Gramm-Leach-Bliley Act, Pub. L. 106-102 (1999).(b) On or before July 1, 2001, the commissioner shall propose rules for legislative approval in accordance with article twenty, chapter twenty-nine-a of this code necessary to carry out the provisions of Title V of the Gramm-Leach-Bliley Act, Pub. L. 106-102 (1999) and this article.(c) Medical records and medical billing records obtained by insurers in connection with insurance claims or civil litigation shall be confidentially maintained by insurers in accordance with state and federal law, including the provisions of Title 114, Series 57 of the Code of State Rules, and no additional restrictions or conditions may be imposed that contradict or are inconsistent with any applicable policy of insurance or the performance of insurance functions permitted or authorized by state and federal law. The Insurance Commissioner shall review the provisions of Title 114, Series 57 of the Code of State Rules and, to the extent determined necessary, shall propose new rules or modify existing rules by December 31, 2017 to address:(1) The circumstances under which an insurance company may disclose medical records and medical billing records to other persons or entities;(2) The circumstances under which personal identifying information of a person must be redacted before that person’s medical records or medical billing records may be disclosed to other persons or entities;(3) The steps an insurance company is required to undertake before medical records or medical billing records are disclosed to other persons or entities to assure that any person or entity to which an insurance company is disclosing a person’s medical records or medical billing records will be using such records only for purposes permitted by law; and,(4) The implementation of the requirement that the insurance company has processes or procedures in place to prevent the unauthorized access by its own employees to a person’s confidential medical records or medical billing records.
WV Code § 33-6F-2 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 6F. Disclosure of Nonpublic Personal Information|§33-6F-2. Disclosure of Certain Insurance Information Required

Notwithstanding the provisions of section one of this article:(a) Each insurer that provides personal lines liability insurance coverage, as that term is defined in section nine, article twelve of this chapter, to pay all or a portion of a claim asserted against an insurance policy insuring a motor vehicle shall provide, within thirty days of its receipt of a written request from a claimant's attorney who has given written notice that he or she represents the claimant:(1) A response providing the following information relating to each of the insurer's known policies of insurance, including excess or umbrella insurance, which does or may provide liability coverage for the claim:(A) The name of the insurer;(B) The name of each named insured of the subject policy; and(C) The limits of any motor vehicle liability insurance policy at the time of the events that are the subject of the claim; or(2) The declarations page of any motor vehicle liability policy applicable at the time of the events that are the subject of the claim, appropriately redacted to comply with applicable privacy laws or rules;(b) Any written request by the claimant's attorney under this section must include:(1) The date and location of the events that are the subject of the claim;(2) The name and, if known, the last known address of the insured;(3) A copy of the accident or incident report, if any;(4) The insurer's claim number;(5) A good-faith estimate and documentation of all of the claimant's medical expenses if any and any wage loss documentation as of the date of the request, if any; and(6) Documentation as of the date of the request of any and all property damage.(c) Disclosure of the information required by subsection (a) of this section is not an admission that the alleged injury or damage is subject to the policy, nor does the disclosure waive any reservation of rights an insurer may have.(d) The information disclosed by any party pursuant to this section, by reason of the disclosure, is not admissible as evidence at trial.(e) An insurer's compliance with this section does not constitute a violation of this article, or subsection (12), section four, article eleven of this chapter.(f) An insurer that fails to comply with this section is subject to a penalty of $500, plus reasonable attorneys' fees and expenses incurred in obtaining disclosure of the information required by subsection (a) of this section. This penalty is the sole and exclusive remedy for an insurer's failure to comply with this section.
WV Code § 33-7-2 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 7. Assets and Liabilities|§33-7-2. Deductions From Assets and Liabilities

Assets may be allowed as deductions from corresponding liabilities, and liabilities may be charged as deductions from assets, and deductions from assets may be charged as liabilities, in accordance with the form of annual statement applicable to such insurer as prescribed by the commissioner, or otherwise in his discretion.
WV Code § 33-7-3 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 7. Assets and Liabilities|§33-7-3. Assets Not Allowed

In addition to assets impliedly excluded by the provisions of section one of this article, the following expressly shall not be allowed as assets in any determination of the financial condition of an insurer:(a) Goodwill, trade names and other like intangible assets.(b) Advances to officers (other than policy loans) whether secured or not, and advances to employees, agents and other persons on personal security only.(c) Stock of the insurer, owned by it, or any equity therein or loans secured thereby, or any proportionate interest in the stock acquired or held through the ownership by the insurer of an interest in another firm, corporation or business unit.(d) Furniture, fixtures, furnishings, safes, vehicles, libraries, stationery, literature and supplies, and except, in the case of any insurer, personal property the insurer is permitted to hold pursuant to article eight of this chapter, or which is acquired through foreclosure of chattel mortgages acquired pursuant to said article or which is reasonably necessary for the maintenance and operation of real estate lawfully acquired and held by the insurer other than real estate used by it for home office, branch office and similar purposes.(e) The amount, if any, by which the aggregate book value of investments as carried in the ledger assets of the insurer exceeds the aggregate value thereof as determined under this chapter.
WV Code § 33-7-4 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 7. Assets and Liabilities|§33-7-4. Reporting Assets Not Allowed or of Doubtful Value

All assets not allowed and all other assets of doubtful value or character included as assets in any statement by an insurer to the commissioner, or in any examiner's report to him shall also be reported, to the extent of the value disallowed, as deductions from the gross assets of such insurer except where the commissioner permits a reserve to be carried among the liabilities of such insurer in lieu of any such deduction.
WV Code § 33-7-5 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 7. Assets and Liabilities|§33-7-5. Liabilities

In any determination of the financial condition of an insurer, capital stock and liabilities to be charged against its assets shall include:(a) The amount of its capital stock outstanding, if any;(b) The amount, estimated consistent with the provisions of this chapter, necessary to pay all of its unpaid losses and claims incurred on or prior to the date of statement, whether reported or unreported, together with the expenses of adjustment or settlement thereof;(c) With reference to life and accident and sickness insurance and annuity contracts:(1) The amount of reserves on life insurance policies and annuity contracts in force, valued according to the tables of mortality, rates of interest, and methods adopted pursuant to this chapter which are applicable thereto,(2) Reserves for disability benefits, for both active and disabled lives,(3) Reserves for accidental death benefits, and(4) Any additional reserves which may be reasonably required by the commissioner on account of such insurance.(d) With reference to insurance other than specified in paragraph (c) of this section, the amount of reserves equal to the unearned portions of the gross premiums charged on policies in force, computed in accordance with this article;(e) Taxes, expenses and other obligations due or accrued at the date of the statement.
WV Code § 33-7-6 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 7. Assets and Liabilities|§33-7-6. Unearned Premium Reserve

(a) With reference to insurance against loss or damage to property (except as provided in paragraph (e) of this section) and with reference to all general casualty insurance, and surety insurance, every insurer shall maintain an unearned premium reserve on all policies in force.(b) The commissioner may require that such reserves shall be equal to the unearned portions of the gross premiums in force after deducting reinsurance in solvent insurers effected in the manner provided in this chapter as computed on each respective risk from the policy's date of issue.(c) All of such reserves may be computed, at the option of the insurer, on a yearly or more frequent pro rata basis.(d) After adopting a method for computing such reserve, an insurer shall not change methods without approval of the commissioner.(e) With reference to marine insurance, premiums on trip risks not terminated shall be deemed unearned, and the commissioner may require the insurer to carry a reserve thereon equal to one hundred percent on trip risks written during the month ended as of the date of statement.
WV Code § 33-7-7 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 7. Assets and Liabilities|§33-7-7. Reserves for Accident and Sickness Insurance

For all accident and sickness policies the insurer shall maintain an active life reserve which shall place a sound value on its liabilities under such policies and which shall not be less than the reserve according to standards set forth in regulations issued by the commissioner and which,(a) For credit accident and sickness policies, in no event shall be less than the unearned premium reserve for such policies calculated on the sum of the digits formula, commonly known as the "Rule of 78";(b) For all other accident and sickness policies, in no event shall be less than the pro rata gross unearned premium reserve for such policies.
WV Code § 33-7-8 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 7. Assets and Liabilities|§33-7-8. Increased Reserves

(a) If the commissioner determines that an insurer's unearned premium reserve, however computed, is inadequate, he may require the insurer to compute such reserve or any part thereof according to such other method or methods as are prescribed in this article.(b) If the loss experience of an insurer shows that its loss reserves, however estimated, are inadequate, the commissioner shall require the insurer to maintain loss reserves in such increased amount as is needed to make them adequate.
WV Code § 33-7-9a (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 7. Assets and Liabilities|§33-7-9a. Annuity Mortality Tables

The commissioner shall propose rules, on or before July 1, 1998, adopting the national association of Insurance Commissioners' model proposal "Recognizing Annuity Mortality Tables For Use In Determining Reserve Liabilities," which incorporates the "Annuity 2000 Mortality Table" and the "1994 Group Annuity Reserving Table."
WV Code § 33-7-10 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 7. Assets and Liabilities|§33-7-10. Valuation of Bonds

(a) All bonds or other evidences of debt having a fixed term and rate of interest held by any insurer may, if amply secured and not in default as to principal or interest, be valued as follows:(1) If purchased at par, at the par value.(2) If purchased above or below par, on the basis of the purchase price adjusted so as to bring the value to par at maturity and so as to yield in the meantime the effective rate of interest at which the purchase was made, or in lieu of such method, according to such accepted method of valuation as is approved by the commissioner.(3) Purchase price shall in no case be taken at a higher figure than the actual market value at the time of purchase, plus actual brokerage, transfer, postage or express charges paid in the acquisition of such securities.(4) Unless otherwise provided by valuation established or approved by the commissioner, no such security shall be carried at above the call price for the entire issue during any period within which the security may be so called.(b) The commissioner shall have full discretion in determining the method of calculating values according to the rules set forth in this section: Provided, That no such method or valuation shall be inconsistent with any applicable valuation or method used by insurers in general or any such method then currently formulated or approved by the committee on valuation of securities of the national association of Insurance Commissioners or its successor organization.
WV Code § 33-7-11 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 7. Assets and Liabilities|§33-7-11. Valuation of Other Securities

(a) Securities, other than those referred to in section ten of this article, held by an insurer shall be valued, in the discretion of the commissioner, at their market value, or at their appraised value, or at prices determined by him as representing their fair market value, all consistent with any current method for the valuation of any such security formulated or approved by the commissioner.(b) Preferred or guaranteed stocks or shares while paying full dividends may be carried at a fixed value in lieu of market value, at the discretion of the commissioner and in accordance with such method of computation as he may approve.(c) Stock of a subsidiary corporation of an insurer shall not be valued in excess of the net value thereof as based upon those assets only of the subsidiary which would be eligible pursuant to the provisions of this article, and article eight of this chapter, for investment of funds of the insurer directly.(d) No valuations under this section shall be inconsistent with any applicable valuation or method then currently formulated or approved by the committee on valuation of securities of the national association of Insurance Commissioners or its successor organization.
WV Code § 33-7-12 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 7. Assets and Liabilities|§33-7-12. Valuation of Real Property

(a) In the event of a default real property acquired pursuant to a mortgage loan or contract for sale shall not be valued at an amount greater than the unpaid principal of the defaulted loan or contract at the date of such acquisition, together with any taxes and expenses paid or incurred in connection with such acquisition, and the cost of improvements thereafter made by the insurer and any amounts thereafter paid by the insurer on assessments levied for improvements in connection with the property.(b) The value of other real property acquired or held by an insurer shall in no event be valued at more than the purchase price. Purchase price includes capitalized permanent improvements, less depreciation as allowed by the current accounting practices and procedures manuals of the national association of Insurance Commissioners. Real property that has been affected by permanent declines in value shall be valued at not more than market value.
WV Code § 33-7-13 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 7. Assets and Liabilities|§33-7-13. Valuation of Mortgages or Deeds of Trust

Mortgages or deeds of trust on real property shall be valued in an amount equal to the unpaid balance but not exceeding sixty- six and two-thirds percent of the fair value of such real property, except that any amount in excess of sixty-six and two- thirds percent may be included to the extent the loan evidenced by such deed of trust or mortgage is guaranteed by an agency of the federal government.
WV Code § 33-8-1 (2021)
2021 West Virginia Code|Chapter 33. Insurance|Article 8. Investments|§33-8-1. Purpose and Scope

(a) The purpose of this article is to protect the interestsof insureds by promoting insurer solvency and financial strength. This will be accomplished through the application of investment standards that facilitate a reasonable balance of the following objectives:(1) To preserve principal;(2) To assure reasonable diversification as to type of investment, issuer and credit quality; and(3) To allow insurers to allocate investments in a manner consistent with principles of prudent investment management to achieve an adequate return so that obligations to insureds are adequately met and financial strength is sufficient to cover reasonably foreseeable contingencies.(b) This article applies only to investments and investment practices of domestic insurers and United States branches of alien insurers entered through this state. This article does not apply to separate accounts of an insurer except as provided in article thirteen-a of this chapter.(c) This recodification of former article eight preserves and continues prior limitations contained in section 106(a)(1) or (2) of the Secondary Mortgage Market Enhancement Act of 1984 ("SMMEA"), an act of the Congress of the United States adopted by the acts of the Legislature in 1991 albeit under separate sections of the same article. Pursuant to section 106(b) of SMMEA, this section prohibits domestic insurers from exercising the investment authority granted any person, trust, corporation, partnership, association, business trust or business entity pursuant to section 106(a)(1) or (2) of that act.