Use of Automobile Standard Forms - Withdrawal of Administrative Letter 1995-4

ALFRED W. GROSS COMMISSIONER OF INSURANCE STATE CORPORATION COMMISSION BUREAU OF INSURANCE P.O. BOX 1157 RICHMOND, VIRGINIA 23218 TELEPHONE: (804) 371-9741 TDD/VOICE: (804) 371-9206 http://www.scc.virginia.gov May 1, 2008 ADMINISTRATIVE LETTER 2008-06 To: All Risk Retention Groups and Risk Purchasing Groups Registered to do Business in Virginia, All Surplus Lines Insurers Approved to do Business in Virginia, and All Surplus Lines Brokers Licensed to do Business in Virginia Re: Use of Automobile Standard Forms Withdrawal of Administrative Letter 1995-4 The Bureau of Insurance (Bureau) has determined that surplus lines insurers, risk retention groups not chartered in Virginia, and licensed insurers transacting the business of insurance with risk purchasing groups not domiciled in Virginia are only required to use Virginia automobile standard forms if the insurer, on behalf of its insured, files an SR-22 or FR-44 with the Virginia Department of Motor Vehicles in order to comply with Virginia’s financial responsibility laws. Consequently, the Bureau is withdrawing Administrative Letter 1995-4, which required surplus lines insurers to use the automobile standard forms without exception. Please keep in mind, however, that the following entities must always use Virginia automobile standard forms, and any additional provisions or coverages more favorable than those in the automobile standard forms used by these entities must be approved by the Bureau as set forth in § 38.2-2223 of the Code of Virginia: 1. A risk retention group chartered in Virginia; or 2. A licensed insurer that transacts the business of insurance with a risk purchasing group domiciled in Virginia. If you have any questions regarding this administrative letter, please contact Manager of P&C Consumer Services, at (804) 371-9185. Cordially, Alfred W. Gross Commissioner of Insurance AWG/jgs