Who oversees insurance companies in Virginia?
Commission’s Bureau of Insurance
The State Corporation Commission’s Bureau of Insurance (Bureau) regulates insurance companies and investigates insurance complaints.
How do I renew my Virginia insurance license?
You can renew your license through Sircon or NIPR. The renewal fee is $10 per line of authority. Email us with any licensing renewal questions at [email protected]. Must renew by May 1 every odd year.
Who is the commissioner of insurance in Virginia?
Scott A. White
| Virginia Commissioner of Insurance | |
|---|---|
| Authority: | Virginia Code, Title 12.1, Chapter 3 |
| Selection Method: | Appointed by the State Corporation Commission |
| Current Officeholder | |
| Scott A. White |
What is Virginia State Corporation Commission number?
804-371-9967
For general information – please call 804-371-9967 or 1-800-552-7945, or email us at [email protected].
How do I file a complaint against a company in Virginia?
Please call the Consumer Protection Hotline at (800) 552-9963 if calling from Virginia, or (804) 786-2042 if calling from the Richmond area or from outside Virginia. Our business hours are 8:30 a.m. to 5:00 p.m., Monday through Friday.
Which agency regulates insurance companies?
1. Insurance Regulatory and Development Authority of India (IRDAI), is a statutory body formed under an Act of Parliament, i.e., Insurance Regulatory and Development Authority Act, 1999 (IRDAI Act 1999) for overall supervision and development of the Insurance sector in India.
What is the official name of the department in charge of insurance regulation for Virginia?
The Bureau licenses, regulates, investigates and examines insurance companies, agencies and agents on behalf of the citizens of the Commonwealth of Virginia. The Bureau of Insurance also registers, examines and investigates (title) real estate settlement agents and agencies.
How does the Virginia Office of consumer Affairs protect consumers?
State and local consumer protection offices mediate issues, conduct investigations, prosecute offenders of consumer laws, license and regulate a variety of professionals, promote strong consumer protection legislation, provide educational materials and advocate in the consumer interest.
What is the highest Authority for insurance regulation?
The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories.
How does the Government regulate insurance companies?
Insurance is regulated by the states. This system of regulation stems from the McCarran-Ferguson Act of 1945, which describes state regulation and taxation of the industry as being in “the public interest” and clearly gives it preeminence over federal law. Each state has its own set of statutes and rules.
How long does an Virginia insurance license last?
In Virginia, insurance licenses expire every two years. The expiration will be on the last day of your birth month, biennially, based on the anniversary of your original license year.