A foreign title insurance company licensed to transact business in the Commonwealth shall be permitted to establish and maintain an unearned premium reserve on title insurance policies issued on properties located in the Commonwealth pursuant to the reserving laws of that foreign title insurance company‘s domiciliary regulator so long as the domiciliary regulator is accredited under the National Association of Insurance Commissioner’s Financial Regulation Standards and Accreditation Program.

Terms Used In Virginia Code 38.2-4610.1:1

  • Company: means any association, aggregate of individuals, business, corporation, individual, joint-stock company, Lloyds type of organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Virginia Code 38.2-100
  • Insurance company: means any company engaged in the business of making contracts of insurance. See Virginia Code 38.2-100
  • insurance policies: shall include contracts of fidelity, indemnity, guaranty and suretyship. See Virginia Code 38.2-100

2008, c. 248.

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