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Current as of January 01, 2024 | Updated by Findlaw Staff
The commissioner and the association may:
(a) Give consideration to the need for adequate and readily accessible coverage, to alternative methods of improving the market affected, to the preferences of the insurers and agents, to the inherent limitations of the insurance mechanism, to the need for reasonable underwriting standards, and to the requirement of reasonable loss prevention measures.
(b) Establish procedures that will create minimum interference with the voluntary market.
(c) Spread the burden imposed by the facility equitably and efficiently.
(d) Establish procedures for applicants and participants to have grievances reviewed.
(e) Take all reasonable and necessary steps to dissolve the association at the earliest date when essential insurance becomes readily available in the private market. The dissolution of the association, including its assets and liabilities, shall be accomplished under the supervision of the commissioner in an equitable and reasonable manner.
Cite this article: FindLaw.com - West Virginia Code Chapter 33. Insurance § 33-20A-6. Powers of commissioner and association - last updated January 01, 2024 | https://codes.findlaw.com/wv/chapter-33-insurance/wv-code-sect-33-20a-6/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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