Latest Virginia Headlines
All the headlines from our Virginia Topic Page, ordered by recency.
ISABEL COST VIRGINIA INSURERS $925 MILLION:
Jan 12 2004 // Hurricane Isabel’s cost to insurers in Virginia has more than doubled the original expectations, and now tops $925 million. The figure represents more than half of the total $1.69 billion in insured damage from the...
TORT REFORM ASSOCIATION CALLS W. VA. A ‘JUDICIAL HELLHOLE’:
Jan 12 2004 // The American Tort Reform Association (ATRA) singled out West Virginia as the only statewide “judicial hellhole” in their recently released report, Bringing Justice to Judicial Hellholes 2003. The designation...
A.M. Best Downgrades Rating for Medical Assurance of W. Va.
Dec 29 2003 // A.M. Best Co. has downgraded the financial strength rating to B (Fair) from A- (Excellent) of Medical Assurance of West Virginia, Inc., (Charleston, WV) a wholly-owned subsidiary of Medical Assurance Company Inc. (MAI),...
Tort Reform Association Calls W.Va. a “Judicial Hellhole”
Dec 22 2003 // The American Tort Reform Association (ATRA) singled out West Virginia as the only statewide “Judicial Hellhole” in their recently released report, “Bringing Justice to Judicial Hellholes™...
West Virginia Tabbed as Top State with Highest Workers’ Comp Cost Per Employee by UWC
Dec 2 2003 // The National Foundation for Unemployment & Workers’ Compensation (National Foundation) published its annual report on workers’ compensation in the United States, and reportedly finds West Virginia as the...
W. Va. Commissioner Warns of Impact with Wildlife
Oct 14 2003 // West Virginia Insurance Commissioner, Jane Cline, announced recently that along with the fall season comes an increase in the number of auto related accidents involving deer and other wildlife. This increase occurs during...
Va. Birth-Related Neurological Injury Compensation Fund On Financial Watch
Oct 7 2003 // An actuarial review of the Virginia Birth-Related Neurological Injury Compensation Fund reportedly finds that the outlook for the program’s ability to meet future claims payments has deteriorated. However, the State...
20 States Have Enacted Tort Reforms This Year
Aug 4 2003 // This year has been the busiest for enactment of state civil justice reform legislation since 1995, according to the American Tort Reform Association (ATRA). At mid-year, 20 states already have enacted laws; 19 laws were...
20 States Have Enacted Tort Reforms This Year
Jul 15 2003 // This year has been the busiest for enactment of state civil justice reform legislation since 1995, according to the American Tort Reform Association (ATRA). At mid-year, 20 states already have enacted laws; 19 laws were...
NCOIL Scoring Model Reportedly Garners Support in States
Jul 10 2003 // The reported increasing popularity of the National Conference of Insurance Legislators (NCOIL) Insurance Scoring Model Act and the publication of two significant studies showing an irrefutable link between credit-based...
Tenn. Moves Forward on Liquidation of Malpractice Firms
Jun 9 2003 // Tennessee Commissioner of Commerce and Insurance Paula A. Flowers announced that her department received court approval to liquidate three Tennessee-chartered malpractice insurance companies that issued policies to...
BB&T to Acquire Tennessee Agency
Jun 6 2003 // North Carolina-based BB&T Insurance Services announced plans to buy STHARCO Inc., parent company of Kingsport Development Company (KDC) Insurance Inc. of Kingsport, Tenn. The acquisition would give the insurance...
Tennessee Moves to Liquidate Virginia Reciprocals
May 20 2003 // Tennessee Commissioner of Commerce and Insurance Paula A. Flowers filed court petitions seeking the liquidation of three related Tennessee-chartered insurance reciprocal companies that insure thousands of lawyers, doctors,...
IIABA Asks Supreme Court to Hear W.Va. Insurance Regulation Case
May 9 2003 // The Independent Insurance Agents & Brokers of America announced that it has asked the U.S. Supreme Court to hear an appeal of the Fourth Circuit Court of Appeals decision in which the lower court ruled that West...
Copart Opens Richmond, VA Facility
May 8 2003 // Copart, Inc., the U.S. leading auto salvage service for insurance companies, announced that it has opened a new 12-acre facility in Richmond, Virginia, bringing its total locations to 102 in 40 states. “The new...
VA’s SCC Temporarily Stops Payments on ROA Claims
May 1 2003 // Virginia’s State Corporation Commission announced that it has temporarily stopped the payment of certain claims by Reciprocal of America (ROA) – a Virginia-domiciled reciprocal that was placed into receivership...
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...
