SCC request stops two insurers from selling in Virginia

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Two New York-based insurance companies have agreed to stop writing business in Virginia in response to a regulator’s request.

Atlantic Mutual Insurance Co. and Centennial Insurance Co. agreed in a letter, dated Dec. 14, 2009, and signed by its president, general counsel and corporate secretary, Nancy E. Hahon, that both companies will not solicit or issue any new insurance policies in the commonwealth until the commission grants permission, according to Virginia State Corporation Commission Bureau of Insurance records.

The bureau based its request of both companies on “financial regulatory concerns,” the order said.

This story originally appeared in the March 2010 of Insurance & Financial Advisor.

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