W. Va. Code R. § 114-12-7

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 114-12-7 - Requirements for Replacement

7.1. Application forms shall include a question designed to elicit information as to whether the policy to be issued is intended to replace any other accident and sickness insurance presently in force. A supplementary application or other form to be signed by the applicant containing such a question may be used.

7.2. Upon determining that a sale will involve replacement, an insurer, other than a direct response insurer, or its agent shall furnish the applicant, prior to issuance or delivery of the policy, the notice prescribed in appendix J of this rule. One (1) copy of the notice shall be retained by the insurer. A direct response insurer shall deliver to the applicant, upon issuance of the policy, the notice prescribed in appendix K of this rule. In no event, however, will a notice be required in the solicitation of accident-only and single-premium nonrenewable policies.