Guidance from the VA Bureau of Insurance: Family Leave Coverage
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The Bureau of Insurance has issued guidance for companies desiring to write family leave coverage in Virginia, pursuant to new legislation in the 2022 session of the General Assembly. Below are some of the minimum requirements. All insurers writing family leave coverage in Virginia must review the information posted under NEW TO REVIEW on the SCC’s website at: Important Information – New Family Leave Coverage.
Section 38.2-107.2 of the Code of Virginia authorizes family leave insurance as a new line of authority in Title 38.2 (House Bill 1156 and Senate Bill 15). The law became effective on 7/1/2022.
The coverage, as defined, is an insurance policy issued to an employer group related to a benefit program provided to its employees.
License:
This coverage may be written by carriers licensed to write life, accident and sickness, and property and casualty insurance in Virginia. Carriers domiciled in Virginia may apply for the new line of authority. Foreign insurers may apply for a line of authority to write family leave if the carrier is licensed to write family leave or disability income protection insurance in the carrier’s state of domicile.
Form and Rates Requirements:
Forms and rates related to family leave insurance must be filed with the State Corporation Commission. We anticipate that the forms will be submitted through SERFF. The SERFF Filing Description must state that forms and rates are submitted as family leave insurance. The TOI and Sub-TOI carriers should use when submitting the filing are: H11G and H11G.004.
§§ 38.2-316 A and C of the Code of Virginia, require that all forms that provide family leave insurance be filed and approved by the State Corporation Commission. In addition to this requirement, the rate manual showing rates, rules and classification of risks applicable to the insurance must be filed with the Commission.
Additional form requirements are in the communication on the website.
If you have additional questions, please email elsie.andy@scc.virginia.gov.
