Act No. 8211 — An Act amending title 22, chapter 10 of the Virgin Islands Code by deleting from section 232 the words “life” and “disability” and by adding
ACT’NO. 8211 BILL NO. 33-0147 THIRTY-THIRD LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2019 An Act amending title 22, chapter 10 of the Virgin Islands Code by deleting from section 232 the words “life” and “disability” and by adding a new section 248, all to satisl’ the accreditation standards established by the National Association of Insurance Commissioners and to provide more effective protection to the policyholders in the territory ---0--- ‘WHEREAS, it is imperative that all United States jurisdictions, including the Virgin Islands, periodically update their insurance laws commensurate with the ever-evolving insurance industry to strengthen solvency regulation of insurance companies doing business in the United States; WHEREAS, as a result of industry trends and experience in the insurance market the National Association of Insurance Commissioners (“NAIC”) has established and continues to establish core accreditation standards and a comprehensive set of laws, known as the Model Laws and Regulations, in order to assist United States jurisdictions in affording greater protec …
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