W. Va. Code R. § 114-72-2

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

Section 114-72-2 - Definitions

Definition of certain terms. The following words and terms, when used in this rule shall have the following meanings, unless the context clearly indicates otherwise:

2.1. "Annual statement" means the annual statement most recently filed by the insurer with the Insurance Commissioner.

2.2. "Commissioner" means the West Virginia Insurance Commissioner.

2.3. "Withdrawal" means the termination, cancellation, or nonrenewal of the line of personal private passenger automobile liability or physical damage insurance subject to article six-a, chapter thirty-three of the West Virginia Code; or the termination, cancellation, or nonrenewal of the line of property insurance, other than policies of inland marine insurance, subject to article seventeen-a, chapter thirty-three of the West Virginia Code; or the transfer from one affiliated insurer within a holding company system to another insurer within that same holding company system of the line of personal private passenger automobile liability or physical damage insurance or property insurance; or the cessation of business entirely in this state.

2.4. "Withdrawal plan" means a written document which contains the required elements listed in section 4 of this rule and is filed with the commissioner for purposes of withdrawal from the line of personal private passenger automobile liability or physical damage insurance subject to article six-a, chapter thirty-three of the West Virginia Code; or for withdrawal from the line of policies of property insurance, other than policies of inland marine insurance, subject to article seventeen-a, chapter thirty-three of the West Virginia Code; or for withdrawal from doing business in this state.

W. Va. Code R. § 114-72-2