Latest Virginia Headlines
All the headlines from our Virginia Topic Page, ordered by recency.
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...
W. Va. Woman Pleads Guilty to Workers’ Comp Fraud Charges
Oct 30 2002 // Peggy Ann Cox of West Virginia has pled guilty in federal court on two counts of fraud. According to The Charleston Gazette, Cox made the plea to Chief U.S. District Judge Charles Haden II, admitting that between December...
Isidore Dumps Heavy Rain on Region
Sep 27 2002 // It may have been downgraded to a “Tropical Depression” by the National Hurricane Center, but Isidore has nonetheless brought heavy rains and created flood conditions to much of the Eastern U.S. After its first...
NAII Urges WV. DOI To Preserve Use Of Credit In Underwriting, Rating
Sep 4 2002 // The West Virginia Department of Insurance’s informational letter addressing credit-based insurance scoring in personal lines would severely restrict the use of a proven underwriting and rating tool, according to the...
SCC Sets Hearing on Va. Workers’ Comp Premium Level Adjustments
Aug 13 2002 // The State Corporation Commission (SCC) has scheduled a November hearing to consider a request filed by the National Council on Compensation Insurance, Inc. (NCCI) to adjust the premium levels charged for workers’...
Farmers Offers Auto Policy Discount in Virginia
Jun 18 2002 // Farmers Insurance Group announced that it will offer special discounts on its auto insurance rates to Virginians who also have a Farmers New World Life Insurance Company policy. “The discount is part of an effort by...
BB&T’s Aggressive Expansion Plan Includes Mergers, Acquisitions
Nov 26 2001 // BB&T Corporation, the Winston-Salem, N.C.-based financial services company with strong insurance interests, is maintaining its strategy of expansion across the southern U.S. by agreeing in principle to merge with...
InsureZone’s AgentSecure Adds Seven New Customers
Nov 8 2001 // InsureZone, the nationwide “clicks and mortar” insurance agency that enables purchases of small commercial insurance through multiple channels, announced that AgentSecure — its Web-enabled market-access...
VA Joins FTC in Pursuing Credit Card Insurance Fraud
Oct 22 2001 // Virginia has joined in a suit by the Federal Trade Commission aimed at stopping fraudulent marketing practices related to the sales of insurance policies covering the theft or misuse of credit cards. According to the FTC...
Amwest Surety Declared Insolvent
Jun 20 2001 // Nebraska-based Amwest Surety Insurance Co. was found insolvent by the District Court of Lancaster County, Nebraska, and placed in liquidation, according to the West Virginia Insurance Commission, a state where the company...
Brown and Brown Acquires The Harris Agency
Apr 10 2001 // Brown and Brown has purchased The Harris Agency, a Manassas, Virginia agency founded more than a century ago. The transaction was effective April 1, 2001. The Harris Agency, established in 1897 and purchased by Loy Harris...
InsuranceNoodle Gains Virginia License
Feb 15 2001 // InsuranceNoodle recently received its license to sell insurance in Virginia, according to Rick Madock, InsuranceNoodle president and co-founder. InsuranceNoodle is now licensed to sell insurance in 33 states and the...
Virginia Surety Lowered
Oct 30 2000 // The FSR on Virginia Surety Co. Inc. was lowered from “Api” to “BBBpi” by S&P, which cited weakening capitalization and deteriorating profitability as major rating factors. Virginia Surety,...
Former West Virginia Prudential Agent Sues over Company’s Alleged Quotas
Oct 27 2000 // A former Prudential agent sued the insurer in a West Virginia Circuit Court Wednesday, alleging the company’s quota system drove him out of business. Billy T. Bush Jr. became a Prudential insurance agent in 1992 and...
Banking Consortium to Acquire Two Virginia Agencies
Aug 24 2000 // The Virginia Bankers Insurance Center, a 67-bank consortium established in 1999 to enter the insurance agency business, has announced plans to acquire the Wytheville, Virginia-based Blue Ridge Insurance Group and the...
Virginia Mutual Affirmed
Jul 24 2000 // The “BBBpi” financial strength rating on Virginia Mutual Insurance Co. was affirmed by S&P. Cited as a key rating factor was the company”s strong capital. This was offset by both its geographical...
Virginia Approves Deregulation Bill
Apr 11 2000 // Virginia Governor James Gilmore signed into law legislation reducing government regulation of commercial insurance. To qualify for the exemption, companies must use a qualified risk manager to purchase their insurance...
