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The Virginia Constitution of 1902 created the SCC to replace the Virginia Board of Public Works and the Office of Railroad Commissioner. The three-member Commission was charged with regulating the state railroads and telephone and telegraph companies and with registering corporations in Virginia. The SCC began operations on March 2, 1903.
The NAIC is not a regulator; while its members are the insurance commissioners (i.e., the chief insurance regulators) of each U.S. state and six territories, [1] the NAIC is a non-governmental organization that concerns itself with insurance regulatory matters but does not actually regulate. The states have not delegated their regulatory ...
In 1989, Markel Corp. acquired the Rhulen Agency of Monticello, New York. Rhulen is a specialty insurer for children's summer camps and youth organizations. Rhulen was later moved to Richmond, Virginia, and renamed Markel Insurance Company. [3] In the Spring of 1997, Markel Corp. trading moved to the NYSE. [6]
The IIABA has spent more than $1 million in 2010 in lobbying efforts on federal crop insurance, insurance licensing reform, and other insurance issues. [2]The IIABA supported the National Association of Registered Agents and Brokers Reform Act of 2013 (H.R. 1155; 113th Congress), a bill which would reduce the regulatory costs of complying with multiple states' requirements for insurance ...
Key takeaways. In California, minimum coverage car insurance requirements are 30/60/15 effective Jan. 1, 2025. Utah minimum coverage limits will increase to 30/60/25.
In 1973, brothers Garry, Terry and Lonnie Ledbetter founded a general agency selling Collateral Protection Insurance (CPI) exclusively in Texas. [1] By the late 1970s, the agency began to expand writing CPI business beyond Texas. In 1984, the agency created State National Insurance Company (SNIC) [1] to underwrite CPI
The National Council on Compensation Insurance (NCCI) is a U.S. insurance rating and data collection bureau specializing in workers' compensation. Operating with a not-for-profit philosophy and owned by its member insurers, NCCI annually collects data covering more than four million workers compensation claims and two million policies. The ...