                                 CODE OF VIRGINIA

DEFINITIONS (§ 38.2-2600)

As used in this chapter:

&#8220;Fronting company&#8221; means a licensed insurer or licensed home
protection company which generally transfers to one or more unlicensed insurers
or unlicensed home protection companies by reinsurance or otherwise all or
substantially all of the risk of loss under all of the home protection contracts
written by it in this Commonwealth.

&#8220;Home protection company&#8221; means any person who performs, or arranges
to perform, services pursuant to a home protection insurance contract.

&#8220;Home protection insurance contract&#8221; or &#8220;contract&#8221; means
any insurance contract or agreement whereby a person undertakes for a specified
period of time and for a predetermined fee to furnish, arrange for or indemnify
for service, repair, or replacement of any and all of the structural components,
parts, appliances, or systems of any covered residential dwelling necessitated
by wear and tear, deterioration, inherent defect, or by the failure of an
inspection to detect the likelihood of failure.

The contract shall provide for a system to effect repair or replacement if the
contract undertakes to provide for repair or replacement services. The contract
shall not include protection against consequential damage from the failure of
any structural component, part, appliance or system.

&#8220;Structural component&#8221; means the roof, foundation, basement, walls,
ceilings, or floors of a home.

HISTORY: 1981, c. 530, §§ 38.1-932, 38.1-944; 1982, c. 132; 1986, c. 562;
2006, c. 634; 2017, c. 727.