Latest Virginia Headlines
All the headlines from our Virginia Topic Page, ordered by recency.
Neb. Joins Va. in Limiting Liability Under Standard Fire Policy
Apr 3 2003 // Gov. Mike Johanns, a Republican, made Nebraska the second state to enact a law that changes the Standard Fire Policy Act related to commercial insurance policies. Virginia was the first state to take such action late last...
BB&T Completes SEFCO Acquisition
Apr 2 2003 // BB&T Corporation reported that it has completed the company’s acquisition of insurance premium finance company Southeast Fidelity Corporation (SEFCO) of Tallahassee, Fla. BB&T has combined the 5-year-old...
VA Congressman Eric Cantor to Address PIA Federal Legislative Summit
Mar 31 2003 // Congressman Eric Cantor (R-Virginia) will address the National Association of Professional Insurance Agents during the group’s 20th Annual Federal Legislative Summit April 3, 2003 in Washington, D.C. PIA Assistant VP...
Alliance Comments on VA’s Changes to Standard Fire Policy Act
Mar 25 2003 // The Alliance of American Insurers has issued a bulletin noting that Virginia Governor Mark Warner has signed into law the nation’s first piece of legislation aimed at changing the Standard Fire Policy Act related to...
NAII Notes Positive Modifications in VA 2003 Insurance Legislation
Mar 17 2003 // “Virginia’s 2003 legislative session ended with the softening of many bills that could have made it much more difficult for insurance companies to conduct business in the state,” said an announcement from...
Alliance Lauds W. Virginia Legislature for Action on Mass Tort Reform
Mar 11 2003 // The Alliance of American Insurers praised the West Virginia Legislature for its passage of SB 213, a venue reform bill that limits the ability of non-residents to bring suit in the state. “The lawmakers of West...
Va. Lawmakers Consider Tightening Use of Insurers’ Underwriting, Rating Tools
Feb 24 2003 // As the final days of the 2003 Virginia legislative session unfold, lawmakers are considering several bills that would impact the resources insurance companies currently use to underwrite and rate their products. Senate...
Med Mal Fever: When Doctors Walk Out, Politicians Notice
Feb 24 2003 // They’re baaack. High-flying medical malpractice liability claims losses, that is. The availability crisis of the 1970s and the affordability crisis of the 1980s may be nothing compared to the crisis insurers and...
Tenn. Commissioner Briefs Lawmakers on Reciprocals in Receivership
Feb 11 2003 // Tennessee Commissioner of Commerce and Insurance Paula A. Flowers briefed the state’s House of Representatives on the department’s placement of three malpractice insurance reciprocals into...
VA Regulators Take Over Reciprocal of America, Reciprocal Group
Jan 31 2003 // Virginia’s State Corporation Commission (SCC) announced that it has been appointed as receiver by the Circuit Court of the City of Richmond for Reciprocal of America (ROA) and the company’s attorney-in-fact,...
W.Va. Surgeons’ Med Mal Strike May Ease as Polemics Continue
Jan 13 2003 // The work stoppage by a number of West Virginia surgeons protesting the high cost of medical malpractice insurance showed signs of easing, as several doctors indicated they would return to their posts. The decision comes at...
Study by W. Va. Lawmakers: Caps Won’t Lower Med-Mal Coverage Rates
Jan 8 2003 // The West Virginia State Legislature has issued a report finding that imposing caps on damages in medical malpractice lawsuits will not reduce insurance rates for physicians, at least in the near future. Following the...
W.Va. Doctors Stage Med-Mal Protest
Jan 2 2003 // Surgeons at four West Virginia hospitals began a protest against the high cost of medical malpractice insurance by refusing to perform surgeries. According to the Associated Press, the doctors took leaves of absence from...
W. Va. Plans Cuts in Workers’ Comp Expenses
Dec 20 2002 // Officials with the West Virginia Workers’ Compensation division revealed plans reduce their operating expenses by $125 million to $136 million. According to the Charleston Daily Mail, the agency also intends to seek...
W. Va. State Agencies See Rise in Med-Mal Claims
Dec 19 2002 // A medical malpractice law passed in West Virginia last year is apparently to blame for an increase in medical malpractice lawsuits against state agencies this year. According to the Charleston Daily Mail, a legislative...
AAI: Consolidation of Va. Asbestos Cases Hinders Due Process
Dec 10 2002 // The Alliance of American Insurers (AAI) decried a U.S. Supreme Court decision that let stand a Virginia court order to consolidate some 1,300 asbestos liability claims into one trial. “We believe consolidation of...
BB&T to Acquire Fla. Premium Finance Co.
Dec 5 2002 // BB&T Corporation of Winston-Salem, N.C. announced plans to buy insurance premium finance company Southeastern Fidelity Corporation (SEFCO) of Tallahassee, Fla., in a stock swap. Terms were not disclosed. BB&T...
W.Va. Workers’ Comp Fund Deficit Approaching $3 Billion
Nov 26 2002 // West Virginia Gov. Bob Wise announced the state’s Workers’ Compensation Fund faces a deficit totaling between $2.5 and $3 billion. According to The Charleston Gazette, the fund had showed deficits since 1995,...
NAII Decries W.Va. Court Ruling on Banks Selling Insurance
Nov 25 2002 // The U.S. Court of Appeals for the Fourth Circuit has given deference to the Office of the Comptroller of the Currency (OCC) in a dispute over regulatory authority with the West Virginia Insurance Commissioner’s...
IIABA: GLBA Does Not Preempt W. Va. Insurance Laws
Oct 31 2002 // The Independent Insurance Agents & Brokers of America (IIABA) and the state of West Virginia argued before a federal appeals court against a U.S. Office of the Comptroller of the Currency (OCC) opinion letter stating...
