Southern Title voluntarily suspended the issuance of new title policies on Sept. 15. The SCC issued an order of suspension Sept. 19.
An impairment order was issued by the SCC on Nov. 4 because the company no longer met minimum capital and reserve requirements.
Virginia Commissioner of Insurance Jacqueline K. Cunningham has been appointed deputy receiver in an effort to rehabilitate the company.
Policyholders with questions about the receivership can call the SCC's Bureau of Insurance at (804) 371-1502.
No comments:
Post a Comment