SD18 - Interim Report of the Virginia Advisory Legislative Council on Fire Insurance Policies
Executive Summary: The Virginia Advisory Legislative Council's Fire Insurance Policies Committee was established pursuant to House Joint Resolution No. 272 of the 1977 General Assembly. George E. Allen, Jr., a member of the House of Delegates of Virginia, was named Chairman of the Committee. Also appointed to serve were Delegates C. Hardaway Marks of Hopewell, Al L. Philpott of Bassett, and Alson H. Smith, Jr. of Winchester and; Senators Virgil H. Goode, Jr. of Rocky Mount and Coleman B. Yeatts of Chatham. C. William Cramme', III and Hugh P. Fisher, III of the Division of Legislative Services served as legal and research staff to the Committee. The Committee has held five meetings during the last two years. At each meeting at least several issues dealing with fire and homeowners' insurance policies as they are currently written in teh Commonwealth were discussed. Key witnesses spoke before the Committee at each meeting. The following organizations were particularly well represented at the meetings. The State Bureau of Insurance; The National Association of Independent Insurers; The American Insurance Association; State Farm Insurance Company; Nationwide Insurance Company; Aetna Life and Casualty Company; and Virginia Farm Bureau Mutual Insurance Company. |