Act No. 8594 — An Act repealing and re-enacting title 22 Virgin Islands Code sections 1443 and 1446 to implement revisions that were made to the National A
ATNO. 859 BILL NO. 34-0255 THIRTY-FOURTH LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2022 An Act repealing and re-enacting title 22 Virgin Islands Code sections 1443 and 1446 to implement revisions that were made to the National Association of insurance Commissioners’ Credit for Reinsurance Model Law ---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 the solvency regulation of insurance companies doing business in the United States; WHEREAS, the National Association of Insurance Commissioners (NAIC), a non-profit organization composed of all insurance regulators in the United States, has established and continues to establish core accreditation standards and a comprehensive set of laws, known as Model Laws and Regulations, in order to assist United States jurisdictions in their regulation of the solvency of their multi-state domestic insurance industry; WHEREAS, jurisdictions in the United States that have been accredit …
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