CODE OF VIRGINIA

CLASSES OF INSURANCE THAT MAY BE WRITTEN BY MUTUAL ASSESSMENT PROPERTY AND
CASUALTY INSURERS; MINIMUM SURPLUS TO POLICYHOLDERS REQUIRED (§ 38.2-2503)

A. Any mutual assessment property and casualty insurer with surplus to
policyholders of at least $ 25,000 may write the following classes:

   1.  Fire insurance as defined in § 38.2-110;

   2.  Miscellaneous property damage insurance as defined in § 38.2-111; and

   3.  Animal insurance as defined in § 38.2-116.

B. Any mutual assessment property and casualty insurer with surplus to
policyholders of at least $ 100,000 may write the following classes of
insurance, in addition to those classes enumerated in subsection A of this
section:

   1.  Water damage insurance as defined in § 38.2-112;

   2.  Burglary and theft insurance as defined in § 38.2-113;

   3.  Glass insurance as defined in § 38.2-114;

   4.  Boiler and machinery insurance as defined in § 38.2-115;

   5.  Personal injury liability insurance as defined in § 38.2-117;

   6.  Property damage liability insurance as defined in § 38.2-118;

   7.  Marine insurance as defined in § 38.2-126;

   8.  Home protection insurance as defined in § 38.2-129;

   9.  Homeowners insurance as defined in § 38.2-130;

   10.  Farmowners insurance as defined in § 38.2-131;

   11.  Commercial multi-peril insurance as defined in § 38.2-132; and

   12.  Contingent and consequential losses insurance as defined in §
   38.2-133.The liability coverages specified in this subsection may be written
   only by insurers having a surplus to policyholders of at least $ 300,000
   unless the coverages are fully reinsured.

C. Any mutual assessment property and casualty insurer with surplus to
policyholders of at least $ 800,000 may write the following classes of
insurance, in addition to those classes enumerated in subsections A and B of
this section:

   1.  Workers’ compensation and employers’ liability insurance as
   defined in § 38.2-119;

   2.  Fidelity insurance as defined in § 38.2-120;

   3.  Surety insurance as defined in § 38.2-121;

   4.  Credit insurance as defined in § 38.2-122;

   5.  Motor vehicle insurance as defined in § 38.2-124;

   6.  Aircraft insurance as defined in § 38.2-125;

   7.  Legal services insurance as defined in § 38.2-127; and

   8.  Mortgage guaranty insurance as defined in § 38.2-128.

HISTORY: Code 1950, §§ 38-523, 38-526, 38-529; 1952, c. 317, § 38.1-659;
1954, c. 161; 1960, c. 292; 1962, c. 172; 1974, c. 244; 1986, c. 562.