Virginia § 38.2-2503 Classes of insurance that may be written by mutual assessment property and casualty insurers; minimum surplus to policyholders required

Virginia Statutes

§ 38.2-2503 — Classes of insurance that may be written by mutual assessment property and casualty insurers; minimum surplus to policyholders required

Virginia § 38.2-2503

Title 38.2INSURANCE

Ch. 25MUTUAL ASSESSMENT PROPERTY AND CASUALTY INSURERS

Art. 1General Provisions

This text of Virginia § 38.2-2503 (Classes of insurance that may be written by mutual assessment property and casualty insurers; minimum surplus to policyholders required) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 38.2-2503 (2026).

Text

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

Free access — add to your briefcase to read the full text and ask questions with AI

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.