Rather, § 35-2109 by the its very own terminology enforce simply to cancellation regarding an insurance policy of the an insurance carrier

The decision into the Lucy relied in the latest research to your an enthusiastic implicit determination that legislature implied cancellation from an insurance policy because of the a made finance company as handled in the same fashion as an involuntary termination by the an enthusiastic insurer. The fresh new judge “perceived” such as for example a legislative intent since one of the licensed things about involuntary termination pursuant into the law is a keen insured’s standard below a premium money package. Id. on 897. As a result, brand new court determined that the fresh new proceeding defenses of law had been available to an insured even when their insurance policies was cancelled at the the latest behest out of their premium monetary institution. Id.

In lieu of new Virginia law concerned when you look at the Lucy, § 35-1561 and § 35-2109 proof no legislative purpose to alleviate termination from the an enthusiastic insurance carrier particularly termination of the a premium monetary institution. On the contrary, § 35-1561(c) clearly contemplates that cancellation from the a paid monetary institution should be treated “as if such find away from termination is submitted by the covered themselves.” Whilst the statute including makes it necessary that an enthusiastic insurer render see so you can interested businesses, § 35-1561(d), it needs no extra observe to help you a covered. Area thirty-five-2109 try introduced shortly after § 35-1561, but we could find little inside which will head united states to depart from the foregoing study. While the lead to Virginia may arguably seem significantly more equitable, and a lot more consistent with reality of one’s relationships between an insured and his awesome *473 superior finance company, than the one to required from the plain language out of § 35-1561(c), we are not totally free as the judges to write a beneficial legislative enactment. Continue Reading