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LAWYERS TITLE INS. CORP. v. NORWEST CORP.

Record No. 970385.

493 S.E.2d 114 (1997)

LAWYERS TITLE INSURANCE CORPORATION v. NORWEST CORPORATION, et al.

Supreme Court of Virginia.

October 31, 1997.

Attorney(s) appearing for the Case

Howard W. Dobbins (Ralph L. "Bill" Axselle, Jr.; C. William Waechter, Jr.; Charles E. Wall; Williams, Mullen, Christian & Dobbins, on briefs), Richmond, for appellant.

David F. Peters (Louanna Godwin; Hunton & Williams, on brief), Richmond, for appellees.

Present: CARRICO, C.J., COMPTON, LACY, HASSELL, KEENAN, and KINSER, JJ., and WHITING, Senior Justice.

COMPTON, Justice.

In this appeal of right, we focus upon the meaning of "insurance" in the context of the regulatory jurisdiction of the State Corporation Commission and its Bureau of Insurance. The term is not defined in the Code of Virginia, but we have said that a "shifting of the risk is the essence of insurance." Hilb, Rogal and Hamilton Co. v. DePew, 247 Va. 240, 248, 440 S.E.2d 918, 923 (1994).

Here, we consider...

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