SCC News

MEDIA INQUIRIES

Information Resources Division: 804-371-9141 sccinfo@scc.virginia.gov

 

RECEIVE SCC NEWS

Get updates on the latest in Utility, Financial, and General news

Archive

RICHMOND – The Virginia State Corporation Commission (SCC) has approved in part and denied in part an environmental rate adjustment clause (E-RAC or rider). The rider recovers environmental compliance expenses associated with federal rules regulating the disposal of coal ash at two of the company’s power plants located in West Virginia.

These power plants, the Amos and Mountaineer plants, are coal-fired generation facilities that produce electricity to serve Appalachian Power’s Virginia customers. The SCC reviews and approves the share of those environmental compliance expenses that Virginia customers pay through electric rates.

The SCC approved a $27.44 million Virginia revenue requirement for the first year of the rider. The rider will be adjusted annually to reflect actual and projected expenses associated with compliance costs. The rider will increase the monthly bill of a typical Appalachian Power residential customer by $2.17 starting October 1.

The SCC denied approximately $4.2 million of expenses associated with Appalachian Power's proposed investment in the Amos and Mountaineer power plants to comply with the Environmental Protection Agency's Steam Electric Effluent Limitations Guidelines ("ELG"). The Commission found that Appalachian Power did not meet its burden of proving the reasonableness and prudence of these costs at this time.

In its final order, the Commission said, “We find it is critically important to analyze the overall impact of this investment on both customer rates and reliability, and that [for this specific expense] the instant record is currently lacking in both regards.”

The Commission reiterated in its order its sensitivity to the effects of these rate increases particularly considering the economic impacts associated with COVID-19. The Commission, however, said it must follow the laws applicable to any rate case as well as the findings of fact supported by the evidence.

###

Contact: Ken Schrad, 804-371-9858

Case Number PUR-2020-00258
Order Granting Rate Adjustment Clause

RICHMOND – The 2021 Atlantic hurricane season already has had a busy start with eight named storms and one reaching hurricane strength. The State Corporation Commission’s (SCC) Bureau of Insurance (Bureau) reminds Virginians that late August to early October is often the most dangerous and active time for tropical storm activity – and the potential property damage those storms can cause.

If you have not already reviewed your property insurance, the Bureau urges Virginians to do so now as the hurricane season is underway. Whether you’re a homeowner, renter or business, protect yourself financially by making sure you have the coverage you need before disaster strikes.

Hurricane season officially runs from June 1 to November 30. Even areas hundreds of miles from the coast can be impacted by the high winds, heavy rains and flooding that accompany hurricanes and tropical storms. You may have a difficult time increasing your insurance coverage once a hurricane develops in the Atlantic and until the threat has passed, so review your coverage now and make any necessary changes.

“Disasters can happen anywhere and anytime. Don’t wait until it’s too late to protect yourself and your property from a hurricane or other disaster,” said Virginia Insurance Commissioner Scott A. White. “Assess your risk now and make sure you have the coverage you need before a storm begins to brew.

The Bureau encourages Virginians to talk to their insurance agent or company if they have questions about what is and is not covered, how to reduce property damage and what to do if damage does occur.

Most homeowners, renters and commercial insurance policies do not cover losses due to flooding. Talk to your insurance agent about flood insurance or visit the National Flood Insurance Program’s website at www.floodsmart.gov to learn more about protecting your home or business from damage due to floods, surface water or storm surge. There is typically a 30-day waiting period for a new flood insurance policy to take effect.

The Bureau also encourages Virginians to create a detailed home inventory with photos, videos and serial numbers of your belongings. The National Association of Insurance Commissioners’ (NAIC) free smartphone app can facilitate this process. Place your insurance policies and home inventory in a safe place and take them with you if you must evacuate. These records will contain your policy numbers and the phone numbers of your insurance companies in case you have questions or need to file a claim.

If your property is damaged by a hurricane, contact your insurance agent or company as soon as possible. To protect your property from further damage, make necessary emergency repairs. Document all damage to your property and include photographs, notes and repair-related receipts.

Policyholders should consider the following questions related to potential hurricane damage when reviewing their policies:

  • Does your homeowners policy contain a special deductible for wind or hurricane losses? These deductibles are applied separately from any other deductible on a homeowners policy and may be written as a flat amount, such as $1,000, or applied to a loss as a percentage of the insurance coverage on the dwelling.
     
  • Does your homeowners policy provide coverage for such things as sewer backup? Most homeowners policies do not provide coverage for sewer backup, but policyholders may purchase additional coverage for this.
     
  • Are vehicles covered in the event of a hurricane or windstorm? If you have other-than-collision (or comprehensive) coverage for your vehicle under your automobile policy, your vehicles generally will be covered for flood and wind damage.

To learn more, contact the Bureau of Insurance Property and Casualty Division toll-free at 1-877-310-6560 or in Richmond at 804-371-9185. The Bureau’s specially trained staff can assist consumers with their insurance-related questions and concerns. The Bureau also offers free consumer guides for homeowners and commercial property owners with information about what to do when a disaster strikes. These are available on the disaster readiness section of its website at scc.virginia.gov/pages/Disaster-Readiness.

For additional emergency preparedness information relating to hurricanes and other types of disasters, visit the Virginia Department of Emergency Management website at www.vaemergency.gov.

###

Contact: Katha Treanor, 804-371-9141

RICHMOND – Starting September 11, 2021, permissive 10-digit dialing will begin for Virginians living in the 757 area code region. This is the first step in a February 2020 relief plan approved by the State Corporation Commission (SCC) to phase in the new 948 area code. During the next six months, local calls can be made with either 7 or 10 digits, and all calls that are local will continue to be local even though you dial 10 digits.

The 757 area code encompasses the vast majority of the Hampton Roads metropolitan area including Williamsburg, Franklin and Suffolk in the west, and Virginia Beach, Norfolk and the Eastern Shore to the east.

In the coming months, the inventory of available phone numbers with "757" as the area code is expected to run out. The SCC approved an overlay, which is the addition of another area code (948) to the same geographic region served by an existing area code (757). Beginning May 9, 2022, new telephone lines or services may be assigned numbers using the new 948 area code.

The good news: residents and businesses that already have phone numbers will get to keep them. No one’s 757 phone number will change.

Consumers should start practicing dialing phone numbers using all 10 digits because, beginning April 9, 2022, all local calls made in the 757 area code will not be connected if seven digits are dialed.

You must use 10 digits (3-digit area code + the 7-digit telephone number) as of next April 9. One step people can do to prepare for the switch is to update their cell phone contacts now, so that phone numbers they call regularly already will have the area code attached.

For more information on this topic, see: scc.virginia.gov/pages/757-Area-Code-Exhaust-Relief-FAQ

###

Contact: Ford Carson, 804-371-9141

RICHMOND – August 11 is the day recognized in the Commonwealth to remind Virginians of the importance of always contacting Virginia 811 before you dig. Virginia 811 is the one-call notification center to report planned excavations in the Commonwealth created by Virginia’s utilities to protect their underground facilities.

Contacting Virginia 811 is a simple, no-cost process, with two convenient ways to do so. You can go online at www.va811.com to disclose a digging project taking place at a single address; this online service is available 24 hours a day, 365 days a year. You may also call 8-1-1 Monday through Friday, 7 a.m. to 5 p.m., excluding legal state and national holidays. Emergency notification service is available 24/7, 365 days a year as well.

Know What’s Below. Contact Virginia 811 before you dig, and Dig with C.A.R.E!

C.A.R.E. means:

  • Contact Virginia 811 before you dig.
  • Allow the required time for marking.
  • Respect and protect the marks.
  • Excavate carefully.

Help keep Virginia’s underground utility infrastructure damage-free and our communities, business districts and environment safe by taking this important first step.

To learn more about “Digging with C.A.R.E.” and Virginia’s underground utility damage prevention program, contact the SCC’s Division of Utility and Railroad Safety at 804-371-9980 or visit scc.virginia.gov/pages/Utility-Railroad-Safety.

###

Contact: Ford Carson, 804-371-9141

RICHMOND – After anywhere from months to more than a year of virtual learning due to the COVID-19 pandemic, many students will soon be heading to college campuses for in-person instruction during the fall semester. In addition to new courses, teachers, friends, surroundings and living accommodations, it also can mean new insurance needs.

The State Corporation Commission’s Bureau of Insurance encourages Virginians to make sure their back-to-school checklist includes a thorough review of their own and their student’s insurance needs. “Know before they go what your student’s insurance needs will be and make sure they have the right coverage,” said Virginia Insurance Commissioner Scott A. White. “Protect yourself and your family by reviewing insurance coverage for your student’s health, auto, living space and belongings and make sure they understand the coverage.”

The Bureau offers the following insurance considerations for parents and students:

HEALTH

College students have several options for getting health insurance. Under the federal Affordable Care Act (ACA), students may stay on their parents’ health insurance until age 26. If your student remains on your health insurance policy, make sure he or she has a copy of all insurance cards and understands what services are covered and how to obtain referrals, if necessary, before seeking treatment. Under some health insurance policies, your student would need to find a physician or hospital within the carrier’s provider network – except for emergency care – or pay more out of pocket.

Students who do not have health insurance through a parent's policy, or who have limited coverage due to provider networks or service areas, may opt to purchase a student health insurance plan through their college or university. Students also can apply for a private health insurance plan through the health insurance marketplace at HealthCare.gov. Students may qualify for a Special Enrollment Period for health insurance at HealthCare.gov.

HOME

College students often take many valuable items with them to school including computers, printers, televisions, bicycles and mobile phones. Consider how much it would cost to replace everything in your student’s dorm or apartment should a theft or disaster occur.

For students who live in on-campus student housing, their parents’ homeowners or renters policy may cover their belongings if they are stolen or damaged. However, there may be limits to the amount of coverage provided for such items. Some items such as jewelry or expensive electronics may require special coverage. In the event of a loss, policy deductibles may also apply.

Students living off-campus should consider renters insurance, an inexpensive form of coverage that protects personal property and insures the tenant in case someone is injured while on their leased premises. Landlords’ policies generally only cover the structure, not the possessions of renters. Renters insurance premiums vary depending on the location and size of the rental unit and the value of your possessions.

Encourage your student that, no matter where he or she lives, it’s important to make a list of his or her belongings. An inventory will help you and your student determine how much insurance is needed and, if a loss occurs, the inventory can be used to file a claim. The National Association of Insurance Commissioners offers a free smartphone app that makes creating an inventory easy. Parents may also want to use this opportunity to update their own home inventory as well.

AUTO

For students planning to take a car to school, parents should ask their insurance agent or company about coverage availability and rates for the city and state where the college is located before deciding whether to keep the student’s car on the family policy. Also, make sure you know that state’s minimum requirements for auto insurance coverage. Students who maintain good grades may be eligible for a good student discount on the vehicle’s insurance premium.

Students whose names are on the title for a car must purchase their own policy. However, they may be able to stay on their parents' policy if their parents own the vehicle they will use at school. Let your insurance agent know where the vehicle will be stored if the address is different from what is on the policy.

The Bureau of Insurance encourages parents and students to shop around and compare policy provisions and premiums. Read any insurance policy carefully and make sure you understand exactly what is covered, exclusions, deductibles and limits. If you have questions or concerns, contact your insurance agent or company.

For more information, contact the Bureau of Insurance toll-free at 1-877-310-6560 or in Richmond at 804-371-9741 or visit its website at scc.virginia.gov/pages/Insurance.

###

Contact: Katha Treanor, 804-371-9141

RICHMOND – Mutual funds and exchange traded funds (ETFs) are popular options for many investors who are saving for retirement and other financial goals. They often offer a cost-efficient way to invest in professionally managed portfolios of securities. As with any investment, however, investors should understand their benefits, risks and costs.

When comparing funds, investors should review each fund’s prospectus, shareholder reports and portfolio holdings and evaluate their overall risk/return profiles. Expense ratios also are an important consideration when reviewing funds since, over time, they may reduce a fund’s earnings. Investors can find a fund’s expense ratio on the brokerage company’s website, by searching for the fund’s ticker symbol or in the fund’s prospectus (under Shareholder Fees).

An expense ratio is a fund’s total annual operating expenses expressed as a percentage of its assets. For instance, a one percent expense ratio means that for every $1,000 you have invested, you'll pay $10 in expenses per year.

Mutual funds and ETFs charge shareholders an expense ratio – which is how they pass on a fund’s operating costs to their shareholders on an ongoing basis. The expense ratio reflects all recurring fees a fund charges, such as management fees, administrative fees and distribution or service fees.

Since operating expenses are deducted from a fund’s assets, the return to investors is reduced. Thus, investors should be aware of how operating expenses could impact their investment for any particular fund.

In addition to expense ratios, investors may pay other fees depending on which fund type they choose. Investors may also pay brokerage fees or fees to purchase or redeem shares of a fund (sales load). These are separate from the expense ratio.

Ron Thomas, director of the State Corporation Commission’s (SCC) Division of Securities and Retail Franchising, encourages investors in Virginia to always consider the total fees and expenses they will be charged in connection with any investment. “When investing, remember that all fees and expenses you pay reduce the return on your investment,” he said. “Make sure you consider a fund’s expense ratio as well as sales loads and any other fees when evaluating the overall cost of investing in that fund. Even small differences in fees and expenses can mean a big difference in your returns over time,” he said. 

Thomas encourages Virginians to understand the basics of mutual funds and ETFs before investing in them, noting, however, that questions and inquiries regarding fees associated with mutual funds and ETFs should be directed to the United States Securities and Exchange Commission (SEC) as the SEC has authority over such matters. Still, as with any type of investment, he reminds investors to protect themselves financially by defining their objectives when investing, balancing risk versus reward, researching details about an investment, understanding all costs associated with buying, owning and selling that investment, and regularly monitoring their investments.

To learn more about expense ratios, visit the North American Securities Administrators website. For additional resources regarding securities and investing, or to find out if an investment or the person offering it are properly licensed or registered in Virginia, contact the Division of Securities and Retail Franchising in Richmond at 804-371-9051 or toll-free at 1-800-552-7945, or visit its website at scc.virginia.gov/pages/Consumer-Investments.

###

Contact: Katha Treanor, 804-371-9141

RICHMOND – Although the arrival of summer means sun, fun and travel for many, it can also mean increased risks. Among other things, these risks can include stolen luggage and other belongings; collisions on busy highways; illness while away from home; back yard pool and grilling mishaps, or misadventures on boats, jet skis, recreational vehicles (RVs) and all-terrain vehicles (ATVs).

The State Corporation Commission's (SCC) Bureau of Insurance reminds Virginians to make sure their summer to-do list includes checking with their insurance agent or company to ensure they have the appropriate insurance coverage in the event of an illness, theft or mishap.

“Whether you are traveling, boating, hosting a summer cookout or installing an underground pool, don’t let a lack of insurance coverage ruin your summer fun and put a strain on your wallet,” said Virginia Insurance Commissioner Scott A. White. “Anticipate summer hazards now and minimize their financial damage by ensuring your insurance coverage is adequate and up-to-date.”

Keep your home, vehicles, belongings and personal information safe, especially when away on vacation. Know how much your auto and homeowners insurance will cover if someone steals your belongings from your vehicle, home or yard. If you plan on hosting an event at your home (such as a yard sale or neighborhood cookout), know what type of insurance you need if a guest is injured or if there’s property damage. Know, too, your insurance coverages if severe summer weather damages your home and vehicles while you’re away. Also, understand any deductibles or coverage limits that may apply.

Whether you are at home or away this summer, update your home inventory. This will help to ensure your homeowners or renters policy provides enough coverage for your belongings. It can also help facilitate the claims process if damage or theft occurs. Separate coverage may be needed for high-cost items such as jewelry, art or electronics. The National Association of Insurance Commissioners' free smartphone app – myHome Scr.APP.book – makes creating a home inventory quick and easy. This app is available through iTunes and Google Play.

In the event of hurricanes or prolonged heavy rains, keep in mind that homeowners, renters and commercial insurance policies issued in Virginia typically do not provide coverage for damage to your home and belongings due to floods, surface water or storm surges. However, the federal government does sell insurance covering direct flood and flood-related damage to homeowners, renters and businesses in eligible communities through its National Flood Insurance Program (NFIP). In most cases, there is a 30-day waiting period for a new flood insurance policy to take effect. To learn more about this program, contact your insurance agent or the NFIP at 1-800-427-4661 or visit floodsmart.gov. Some private insurers offer flood policies, so check with your insurance agent about the availability of a private flood insurance policy. In either case, ask whether your flood policy provides coverage for your personal property.

If you are planning a summer trip, become familiar with your health insurance coverage in case you are injured or get sick and require medical treatment in an urgent care facility or hospital while traveling out-of-state or abroad. Bring health insurance information with you on your trip, such as identification cards and contact details for all family members.

If you’re driving a long distance for vacation or to visit friends and family, make sure your auto insurance policy meets your specific needs before you leave. Check your liability limits to ensure adequate protection against personal injury or property damage arising from an accident while travelling. Keep your insurance company's contact information and a copy of your insurance card with you when you drive and know what to do if an accident occurs.

It you plan on boating or jet skiing, exploring with RVs or ATVs, or hosting a yard sale or pool party, ask your insurance company or agent if you are adequately covered.

For information about a variety of insurance-related topics, contact the Virginia Bureau of Insurance in Richmond at (804) 371-9741 or toll-free at 1-877-310-6560 or visit its website at scc.virginia.gov/pages/Insurance.

###

Contact: Katha Treanor, 804-371-9141

 

RICHMOND – Each year, seniors lose significant amounts of money due to financial exploitation. Many cases of financial abuse are never reported, which can happen when seniors or those helping them don’t recognize the signs of financial abuse.

Financial abuse can take many forms. Identity theft; online and telemarketing scams; unauthorized use of checking accounts, debit and credit cards, and the abuse of legally granted powers for individual assistance are just a few examples. Perpetrators may be strangers, family members, trusted friends or caregivers, court-appointed guardians, financial professionals or others.

On World Elder Abuse Awareness Day (June 15), the State Corporation Commission reminds financial professionals and all Virginians to look for signs of elder financial abuse.

“Senior financial exploitation can happen anywhere, any time and to anyone,” said Ron Thomas, director of the State Corporation Commission’s Division of Securities and Retail Franchising (Securities Division). “Perpetrators often strike when seniors are most vulnerable such as during a health crisis or after the death of a loved one. For many seniors, social isolation and increased reliance on the internet for many daily activities only compound the problem.”

Thomas encourages Virginians to recognize the warning signs of senior financial exploitation and steps that can be taken to report such abuse. Some red flags that may signal financial abuse are as follows:

  • Surrendering passwords and control of finances to a new or overly protective friend or caregiver;
  • Unusual activity in bank or investment accounts, including large, frequent or unexplained withdrawals or transfers between accounts;
  • Sudden changes to beneficiary designations or to legal or financial documents such as power of attorney, wills, trusts, retirement accounts or insurance policies, or suddenly missing documents;
  • Unexplained financial activities, such as checks made out to cash or written as “gifts;” unusual loans, or disappearance of assets, valuables or securities;
  • Fear of friends or family members, or a sudden change in feelings toward them;
  • A lack of knowledge by a senior about their financial resources or their reluctance to discuss financial matters, and
  • Suspicious signatures on checks or other documents.

Thomas urges Virginians who suspect they or a loved one are the victims of investment fraud or possible senior financial exploitation to contact the Division of Securities and Retail Franchising at 804-371-9051 in Richmond or toll-free at 1-800-552-7945, by email at SRF_General@scc.virginia.gov, or on its website at scc.virginia.gov/pages/Consumer-Investments.

The North American Securities Administrators Association (NASAA), of which the SCC Securities Division is a member, also has developed resources to help identify fraud and to provide information on how to report suspected elder financial abuse. These resources are available on NASAA’s “Serve Our Seniors” website at serveourseniors.org/about/investors/.

###

Contact: Katha Treanor, 804-371-9141

 

RICHMOND – Social media and online chatrooms allow today’s investors to connect more frequently with one another than ever before. While these resources make investing more accessible to greater numbers of people, they also pose significant risks to the Virginia investor community, especially novice investors, if not approached with caution. The State Corporation Commission (SCC) urges all Virginians to use caution when using online resources, including smartphone investing apps, to invest.

Danny Taylor, the chief of investigations for the SCC’s Division of Securities and Retail Franchising, notes that social media campaigns and online forums can be misleading. This is because investors on those platforms can influence the trading volatility of a stock by raising interest in a certain company.

“Reddit happens to be a very large platform for younger investors, as well as TikTok,” Taylor said. He added that investments related to the recent cryptocurrency surge are one of the biggest issues that his division is currently facing.

Investors who closely follow social media about trending investments could be at risk of making decisions before considering all of the important information about those investments. To address this problem, the North American Securities Administrators Association (NASAA) recently issued an investor awareness advisory to help investors avoid making emotional decisions that can negatively impact their long-term investing strategy:

  • Resist the pressure created by social media chat platforms and buy/sell indicators influenced by social opinions. Do your homework on the sources making recommendations about an investment.
  • Check the registration status of both a security’s promoter and the security itself before making any purchase.
  • Make sure you fully understand how trading on margin and options work before undertaking such a strategy. Margin and options trading are generally riskier than simply buying or selling securities.
  • Keep your long-term investment goals in mind before being pressured into any volatile investment.

The SCC’s Division of Securities and Retail Franchising offers a full list of resources that investors may use to keep themselves safe online.

For more information on securities regulation and registration in Virginia, contact the Division of Securities and Retail Franchising at 804-371-9051 in Richmond or toll-free at 1-800-552-7945. For more information, visit the Division’s website at scc.virginia.gov/pages/Consumer-Investments, or visit the North American Securities Administrators Association’s website at www.nasaa.org.

###

Contact: Ford Carson, 804-371-9141

 

RICHMOND – Although ocean-related weather is relatively quiet now, with only one named storm so far this year, the 2021 Atlantic hurricane season begins on June 1 and follows an active 2020 hurricane season that serves as a stark reminder of the need to plan ahead for hurricanes. After a record-breaking 2020 season with 30 named storms, 13 hurricanes, six major hurricanes and 12 storms that made landfall, forecasters are predicting another above average hurricane season for 2021. Although Virginia was spared the brunt of last year’s storms, certain areas of the Commonwealth felt them indirectly in the form of remnant rainfall and accompanying floods.

Hurricane season runs from June 1 through November 30 each year. The State Corporation Commission’s (SCC) Bureau of Insurance (Bureau) encourages Virginians to review their insurance policies now to make sure they have the coverage needed if a hurricane or other disaster strikes. Once the threat of a hurricane or other weather system arises, it may be difficult to find an insurance company willing to write related coverage until the storm passes.

“Tropical cyclones such as hurricanes are among the strongest and most destructive forces of nature. All it takes is one storm to change your life dramatically, so the time to plan is NOW, said Virginia Insurance Commissioner Scott A. White. White encourages Virginians to review their insurance policies as part of their disaster preparedness checklist. “Assess your risk and make sure you have the coverage you need to repair or replace your home and property if they are damaged or destroyed during a hurricane or other disaster. Contact your insurance agent or company or the Bureau of Insurance if you have questions,” he said.

Even areas hundreds of miles inland from the coast can experience floods and other damage caused by hurricanes’ high winds and torrential rains. In fact, most hurricane damage comes from flooding, not high winds. Even minor floods can cause extensive damage to your home, business or belongings.

Keep in mind that homeowners, renters and commercial insurance policies issued in Virginia typically do not provide coverage for damage to your home and belongings due to floods, surface water or storm surges. However, the federal government does sell insurance covering direct flood and flood-related damage to homeowners, renters and businesses in eligible communities through its National Flood Insurance Program (NFIP). In most cases, there is a 30-day waiting period for a new flood insurance policy to take effect. To learn more about this program, contact your insurance agent or the NFIP at 1-800-427-4661 or visit floodsmart.gov. Some private insurers offer their own flood policies, so check with your insurance agent about the availability of a private flood insurance policy. In either case, ask whether your flood policy provides coverage for your personal property.

Some homeowners insurance policies contain a special deductible for wind or hurricane losses. These deductibles are applied separately from any other deductible on the homeowners policy. Some insurance companies automatically include a wind or hurricane deductible, while others offer this deductible at the policyholder’s option. Wind or hurricane deductibles may be written as a flat amount, such as $1,000, or they may be applied to the loss as a percentage of the insurance coverage on the dwelling. Remember that the deductible is the amount that you are responsible for paying before the insurance company pays its portion of a claim.

As part of the preparation for any potential disaster, the Bureau encourages policyholders to prepare a complete inventory of their personal property including photographs, videotapes and serial numbers. The National Association of Insurance Commissioners’ free smartphone app – myHOME Scr.APP.book – can facilitate this process. If possible, keep your insurance policies and home inventory accessible in a safe, waterproof and fireproof place.

If your property is damaged by a hurricane, contact your insurance agent or company as soon as possible. Make necessary emergency repairs and take reasonable steps to prevent further damage to your property. Compile a list of all damage to your property and include photographs, notes and repair-related receipts. In the event you must evacuate, know the name of your insurance company and take your homeowners, auto and other insurance policies and your home inventory with you or make sure you have saved these important documents electronically. The policies will contain your policy numbers and the phone numbers of your insurance companies in case you have questions or need to file a claim.

The Bureau of Insurance offers free consumer guides for homeowners and commercial property owners with information about what to do when a disaster strikes. These and many other consumer insurance guides are available at scc.virginia.gov/pages/Insurance. The Bureau’s specially trained staff stand ready to assist consumers with their insurance-related questions and concerns. For more information, contact the Consumer Services Section of the Bureau’s Property and Casualty Division toll-free at 1-877-310-6560 or in Richmond at 804-371-9185. For additional emergency preparedness information relating to hurricanes and other types of disasters and hazards, visit vaemergency.gov.

###

Contact: Katha Treanor, 804-371-9141

previous page arrow 1 2 3 4 5

...

11 next page arrow

RECEIVE SCC NEWS

Get updates on the latest in Utility, Financial, and General news

Archive