2019 US Virgin Islands Code
Title 22 - Insurance
Chapter 19 - Insuring Powers of Domestic Companies
§ 461. Authority to transact additional kinds of insurance
Universal Citation: V.I. Code tit. 22, § 461 (2019)
- Authority shall be granted or denied insurers, already authorized to transact one kind of insurance, to transact additional kinds of insurance as follows:
(1) an insurer authorized to transact life insurance may also transact disability insurance and may be authorized to transact additional kinds of insurance subject to such regulation as the Commissioner may prescribe, but a Lloyd's insurer may not transact life insurance;
(2) an insurer authorized to transact title insurance shall not be authorized to transact any additional kind of insurance;
(3) a domestic mutual insurer may be authorized to transact additional kinds of insurance as provided in section 403 of this title; and
(4) an insurer authorized to transact general casualty insurance shall be authorized to transact disability insurance and fidelity insurance without requiring additional financial qualifications.
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