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Serving as the central filing office for business entities authorized to transact business in Virginia and for UCC financing statements; Providing licensing, regulation, examination, and investigation of insurance companies, agencies and agents; Regulating securities, brokers, investment advisers and registering franchises and trademarks;
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
Beginning with its first annuities business written in 1928, the company grew to offer products for mortgage insurance, lifestyle protection, and long-term care insurance. [5] In 1986, Life of Virginia was acquired by Combined Insurance for $557 million. [5] It became Aon in 1987. [5] In 1996, Life of Virginia was acquired by GE Capital. [5] [6]
If you choose to purchase a car insurance policy instead, it must comply with Virginia auto insurance requirements. For policies effective January 1, 2022 to December 31, 2024, drivers must carry ...
If you are unable to do so, you may receive a penalty for driving without insurance in Virginia. The average cost of car insurance in Virginia is $657 annually for minimum liability coverage and ...
The Virginia Department of Motor Vehicles states that drivers will have to maintain SR-22 insurance in Virginia for three years and pay a reinstatement fee if their license has been suspended.
In 1980, the company became an insurance carrier when Essex Insurance Company was incorporated and licensed to write excess and surplus lines business. [5] In 1986, the Markel Corporation was listed on the NASDAQ exchange, with an IPO offered at $8.33 per share. The company's trading was moved to the NYSE in 1997. [6]
Virginia, with a GDP of $712.9 billion, ranked as the 13th largest state in terms of GDP among the 50 states of the United States. Virginia's economy is larger than countries such as Belgium, Sweden, Ireland, and Norway. Virginia is also among the wealthiest states in the US, boasting a GDP per capita of $81,794, which ranks 19th as of 2023.