40 Pa. Stat. § 1222

Current through Pa Acts 2024-53, 2024-56 through 2024-92

Section 1222 - Scope of act

This act applies to all classes and kinds of insurance which may be written by stock or mutual fire, marine or fire and marine insurance companies, associations or exchanges, on risks located in this Commonwealth. Inland marine insurance shall be deemed to include insurance now or hereafter defined by statute, or by interpretation thereof, or if not so defined or interpreted, by ruling of the Insurance Commissioner, hereinafter referred to as commissioner, or as established by general custom of the business as inland marine insurance.

This act shall not apply:

(a) To reinsurance, other than joint reinsurance to the extent stated in section eleven;

(b) To insurance of vessels or craft, their cargoes, marine builders' risks, marine protection and indemnity, or other risks commonly insured under marine as distinguished from inland marine insurance policies;

(c) To insurance of hulls of aircraft, including their accessories and equipment, or against liability arising out of the ownership, maintenance or use of aircraft;

(d) To motor vehicle insurance or to insurance against liability arising out of the ownership, maintenance or use of motor vehicles;

(e) To perpetual policies of insurance issued in consideration of an initial deposit of moneys with the insurer to be held by it during the time such policies are in force and to be returned to the insureds, in whole or in part, upon cancellation of the policies.

If any kind of insurance, subdivision or combination thereof, or type of coverage, subject to this act, is also subject to regulation by another rate regulatory act of this Commonwealth, an insurer to which both acts are otherwise applicable shall file with the commissioner, a designation as to which rate regulatory act shall be applicable to it with respect to such kind of insurance, subdivision or combination thereof, or type of coverage.

40 P.S. § 1222

1947, June 11, P.L. 551, § 2. Reenacted and amended 1961, Aug. 23, P.L. 1053, § 1.