WEST VIRGINIA
Offices of the Insurance Commissioner
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Allan L. McVey
Insurance Commissioner
Contact Information

Telephone:
  (304) 558-2100 
Facsimile:
  (304) 558-1365 
E-Mail:
  OICFinancialConditions@wv.gov
Correspondence:
  WV Offices of the Insurance Commissioner
  ATTN: Financial Conditions Division 
  PO Box 50540
  Charleston, West Virginia 25305-0540
Physical Address:
  WV Offices of the Insurance Commissioner
  Financial Conditions Division 
  900 Pennsylvania Ave. 7th Floor
  Charleston, West Virginia 25302
Hours:
  8:00 am to 5:00 pm Monday thru Friday
  Parking available in front of the building

Company TypeTotal
Accredited Reinsurer28
Advisory Organization2
Captive1
Charitable Gift Annuity255
Discount Medical Plan Organization23
Discount Prescription Drug Plan Organization9
Farmers Mutual Fire11
Fraternal29
Health Care Corporation0
HMDI3
HMO12
Joint Underwriter3
Life437
Managing General Agent32
Prepaid Limited Health Service Organization0
Property & Casualty848
Purchasing Group278
Rating Organization12
Reciprocal15
Reinsurance Intermediary12
Reinsurer Life1
Reinsurer Property & Casualty7
Risk Pool2
Risk Retention81
Surplus Lines184
Third Party Administrator (Home State)51
Third Party Administrator (Non-Resident)298
Third Party Administrator (Registered)46
Title22
Trusteed Reinsurer17
Unlicensed Life0
Unlicensed Property & Casualty0
Unlicensed Reciprocal0
Viatical Settlement Provider6
Certified Reinsurer4
Financial Conditions

Financial Conditions is responsible for the licensing, the financial monitoring, and the financial examination of the insurance companies admitted to do business in West Virginia so that policyholders are secure in purchasing insurance products from financially solvent and compliant insurance companies.

Primary Functions 
 
Licensing/Registration of Insurance Risk-Bearing Entities 
Financial Analysis/Surveillance of Admitted Insurance Companies 
Financial Examinations of Domestic Insurance Companies 

Pharmacy Benefit Managers

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FAQs for PBM Licensing 

Health Benefit Plan Network Access & Adequacy - Forms now available
Overview Of Insurance In West Virginia

  Quick Facts

About 2,700 insurance related entities are licensed, registered, or eligible to do business in West Virginia. The West Virginia Insurance Commissioner is charged by state law with the duty of regulating these entities in order to protect the insurance-buying public. The Financial Conditions Division issues new and renewal licenses to insurance companies, and then regularly examines the domestic companies to monitor financial soundness, investigate the integrity of their marketplace practices, and compliance with West Virginia insurance laws.
 

  Primary Duties and Responsibilities of the Financial Conditions Division Include:

  • Issuing licenses to insurance companies seeking to be admitted to transact the business of insurance in West Virginia.
  • Monitoring the financial solvency of licensed insurance companies to ensure that consumers have the insurance coverage that they expect when they need it.
  • Conducting financial examinations of domestic and foreign insurers to ensure compliance with West Virginia laws and financial solvency requirements.
  • Providing technical assistance on legislation and the promulgation of administrative regulations interpreting insurance laws.
  • Overseeing the operations of the West Virginia Insurance Guaranty Association and West Virginia Life and Health Insurance Guaranty Association.
  • Preparing the West Virginia Insurance Commissioner’s Annual Report.

As of December 31, 2020, more than 2,745 insurance related entities are licensed, registered, or eligible to do business in West Virginia.

Quarterly Lists of Licensed/Registered Companies