The purpose of this article is to authorize the Commission, pursuant to the authority granted in § 38.2-223, to issue rules and regulations to:
1. Provide reasonable standardization and simplification of terms and coverages of individual accident and sickness insurance policies;
2. Facilitate public understanding and comparison;
3. Eliminate provisions contained in individual accident and sickness insurance policies which may be misleading or unreasonably confusing in connection either with the purchase of coverages or with the settlement of claims; and
4. Provide for full disclosure in the sale of individual accident and sickness policies.
1980, c. 204, § 38.1-362.11; 1986, c. 562.
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