A New York-based insurance company had its license to write policies in Virginia suspended.

Upper Hudson National Insurance Co. of Monticello, N.Y., failed to maintain its surplus at the $3 million level required in Virginia, according to Virginia State Corporation Commission Bureau of Insurance records.

Virginia authorities say the company had $2,363,996 in surplus, according to its 2008 annual statement. Virginia law requires $3 million in surplus.

The company had $3.29 million in capital, according to those records.