CHAPTER 575

An Act to amend the Code of Virginia by adding a section numbered
38.1-262.1, to permit the State Corporation Commission to approve
rates, rules and rating plans producing higher premiums for sub-
standard risks.

[H 674]

Approved March 31, 1964

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia be amended by adding a section numbered
38.1-262.1 as follows:

§ 38.1-262.1. The Commission may approve the written application
of any insurer, rating organization or rating bureau to file and use rates,
rules and rating plans which produce premiums in excess of those provided
by a filing otherwise applicable, for use in writing motor vehicle insur-
ance, as defined in § 38.1-21, on classes of risks deemed by the Commis-
sion to be substandard. Such application shall specify the manner in which
the insurer will give notice to insureds that the premiums charged for the
Insurance provided are in excess of those premiums provided by a filing
otherwise applicable. A copy of the application shall be sent by the appli-
cant to all rating organizations or bureaus of which the applicant is a
member or subscriber in this State for the kind of insurance or class of
risk proposed to be written by the applicant.