Act No. 8181 — An Act amending section 105(f) of title 22 Virgin Islands Code to satisfy the accreditation standards established by the National Associatio
ACTNO. 818j BILL NO. 33-00 15 THIRTY-THIRD LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2019 An Act amending section 105(f) of title 22 Virgin Islands Code to satisfy the accreditation standards established by the National Association of Insurance Commissioners in its model laws and update the insurance laws of the Virgin Islands of the United States placing them on par with other United States jurisdictions, thereby affording greater and more effective protection to the policyholders in the Virgin Islands ---0--- WHEREAS, the laws governing the insurance industry in the Virgin Islands of the United States are outdated as many of the laws were enacted in 1968 and have not been updated; WHEREAS, the laws governing the insurance industry in the Virgin Islands do not grant to the Commissioner of Insurance of the Virgin Islands all of the necessary authority to effectively regulate the solvency of the multi-state domestic insurance industry in the Virgin Islands; WHEREAS, all other United States jurisdictions have periodically updated their insurance laws commensurate with the ever- …
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