IFAwebnews » SCC

Virginia approves United Prosperity’s purchase of Shenandoah Life

Jaime L. Brockway — Mon, 24 Oct 2011 10:16:30 +0000

The Virginia State Corporate Commission (SCC) approved a rehabilitation plan for Roanoke-based Shenandoah Life Insurance Co., which includes its acquisition by United Prosperity Life.

Virginia approves United Prosperity’s purchase of Shenandoah Life via IFAwebnews.

Va. looking for feedback on workers’ comp. premium increases

Jaime L. Brockway — Wed, 10 Aug 2011 18:35:37 +0000

The Virginia State Corporation Commission (SCC) scheduled a hearing in Richmond Oct. 27 on proposed adjustments to premiums levels charged for workers' compensation insurance.

Va. looking for feedback on workers’ comp. premium increases via IFAwebnews.

Former Virginia insurance commissioner Al Gross dies

Bob Graham — Fri, 29 Jul 2011 14:50:33 +0000

Alfred W. Gross, one of the longest serving insurance commissioners in the U.S., died this week, less than seven months after he gave up his post has Virginia's insurance regulator.

Former Virginia insurance commissioner Al Gross dies via IFAwebnews.

Five sentenced in Va. for roles in $100 million life-settlement fraud

Bob Graham — Tue, 26 Jul 2011 11:44:12 +0000

Five employees of a life-settlement company, including two executives, who admitted to conspiring to bilk more than 800 investors were sentenced to prison for their roles in the $100 million, life-settlement fraud scheme.

Five sentenced in Va. for roles in $100 million life-settlement fraud via IFAwebnews.

United Prosperity finalizes deal to buy troubled Shenandoah Life

Bob Graham — Fri, 06 May 2011 14:02:08 +0000

United Prosperity Life Insurance Co. has signed an definitive agreement to buy Shenandoah Life Insurance Co., a Roanoke, Va.-based insurer that has been in receivership over financial concerns since February 2009.

United Prosperity finalizes deal to buy troubled Shenandoah Life via IFAwebnews.

Life insurer wants states to ease insurance agent licensing exams

IFAwebnews Staff — Tue, 26 Apr 2011 15:03:50 +0000

The company with the largest life insurance sales force in the U.S. says the licensing test for insurance agents is too tough so it is asking state regulators to ease the test.

Life insurer wants states to ease insurance agent licensing exams via IFAwebnews.

Va. businessman guilty in multi-million dollar insurance fraud scheme

Jaime L. Brockway — Wed, 20 Apr 2011 08:33:57 +0000

A Richmond, Va., businessman, whose companies were barred from selling in Virginia for 120 days, pleaded guilty to participating in an investment scheme involving a handful of insurance companies.

Va. businessman guilty in multi-million dollar insurance fraud scheme via IFAwebnews.

Va. regulators fine unlicensed surety bond agent, companies $280,000

Bob Graham — Tue, 01 Mar 2011 02:17:28 +0000

Virginia insurance regulators shut down a Newport News, Va., insurance agent and two companies and fined them a total of $280,000 for illegal sales of surety bonds for public works projects in the Tidewater region of the state.

Va. regulators fine unlicensed surety bond agent, companies $280,000 via IFAwebnews.

Virginia insurance regulator’s actions against agents, insurers

Bob Graham — Mon, 17 Jan 2011 02:31:39 +0000

The following summaries are based on information obtained from the Virginia State Corporation Commission Bureau of Insurance.

Virginia insurance regulator’s actions against agents, insurers via IFAwebnews.

Cigna Healthcare of Mid-Atlantic fined $40,000 in Virginia

Bob Graham — Mon, 03 Jan 2011 10:57:42 +0000

Cigna Healthcare of the Mid-Atlantic was fined $40,000 by Virginia insurance regulators after a market conduct examination found numerous violations of state laws and requirements.

Cigna Healthcare of Mid-Atlantic fined $40,000 in Virginia via IFAwebnews.