Virginia Code

Va. Code Ann. § 38.2-502 (2026)

Misrepresentations and false advertising of insurance policies

✓ current as of May 2026

Find cases: SyfertCases citing this section VA-LISlaw.lis.virginia.gov JustiaTitle on Justia CornellLII Search CasesGoogle Scholar

No person shall make, issue, circulate, cause or knowingly allow to be made, issued or circulated, any estimate, illustration, circular, statement, sales presentation, omission, or comparison that:

1. Misrepresents the benefits, advantages, conditions or terms of any insurance policy;

2. Misrepresents the dividends or share of the surplus to be received on any insurance policy;

3. Makes any false or misleading statements as to the dividends or share of surplus previously paid on any insurance policy;

4. Misrepresents or is misleading as to the financial condition of any person or the legal reserve system upon which any life insurer operates;

5. Uses any name or title of any insurance policy or class of insurance policies that misrepresents the true nature of the policy or policies;

6. Misrepresents any material fact for the purpose of inducing or tending to induce the lapse, forfeiture, exchange, conversion, replacement, or surrender of any insurance policy;

7. Misrepresents any material fact for the purpose of effecting a pledge, assignment, or loan on any insurance policy; or

8. Misrepresents any insurance policy as being a share of stock.

Code 1950, § 38.1-52; 1952, c. 317, § 38.1-52.1; 1977, c. 529; 1978, c. 441; 1979, c. 324; 1980, c. 404; 1986, c. 562; 1990, c. 265.

Notes of Decisions

Cited in 4 cases, 1988–1996 · leading case: Ambrose v. Blue Cross & Blue Shield of Virginia, Inc., 891 F. Supp. 1153 (E.D. Va. 1995).

Sort: Relevance Newest Treatment

Ambrose v. Blue Cross & Blue Shield of Virginia, Inc., 891 F. Supp. 1153 (E.D. Va. 1995). · cites it 9× “To that end, Va.Code § 38.2-502 prohibits misrepresentation of the “benefits, advantages, conditions or terms of any insurance policy.”

Keel v. Grp. Hospitalization Med. Servs., Inc., 695 F. Supp. 223 (E.D. Va. 1988). “1985) (analogous statutory claim under § 38.2-502 preempted by ERISA). 8 .Plaintiffs have alleged that defendant breached the Group Contract, as explained in the summary benefit pamphlet, by denying benefits after April 1, 1984.”

Neat Sweep of Richmond, Inc. v. Nat'l Chimney Sweep Guild, 20 Va. Cir. 274 (Richmond County Cir. Ct. 1990). · cites it 6× “Va. Code Ann. §§ 38.2-502 and 38.2-503 (1989 Cum.”

Ambrose v. Blue Cross of VA (4th Cir. 1996). “at 1163 (construing Va. Code §§ 38.2-502, 503, 510). Allowing a 3 RICO action under the circumstances, the district court reasoned, would "greatly impair the SCC's ability to enforce Virginia's insur- ance code and, specifically, to secure from insurers settlements that are in…”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.