The Virginia Property Insurance Association (VPIA or "the Association") was established by the Virginia State Corporation Commission for the purpose of Administering a program of equitable distribution and placement of basic property insurance in compliance with the urban property protection and reinsurance act of 1968. The program became effective on July 26, 1968, as the Virginia Insurance Placement Facility and was reorganized as VPIA October 1, 1973. VPIA issues policies on behalf of its members who bear the direct risk on a pro-rata basis. VPIA is responsible for the collection of premiums, payment of commissions, losses and loss adjustment expenses, and also general administrative expenses. Assessments are made on participating companies for funds as they are needed.
Executive compensation, broken down
Form 990 · Schedule J · 2 reported individuals · Filing year 2023
- Base
- $183k
- Bonus
- $46k
- Other
- —
- Benefits
- —
- Base
- $131k
- Bonus
- $27k
- Other
- —
- Benefits
- —
| Position | Base | Bonus | Other | Benefits | Total |
|---|---|---|---|---|---|
General Manager and Secretary officer (unspecified) | $183k | $46k | — | — | $229k $250k |
Assistant Manager key employee | $131k | $27k | — | — | $159k $173k |
Teal figures restate each filed amount in 2026 dollars.
Estimated with BLS CPI-U for the South region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Plus 25 unpaid individuals.
Up 7%
from 2022
From $214k in 2022 to $229k in 2023.
Estimated with BLS CPI-U for the South region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Revenue and expenses over time
VIRGINIA PROPERTY INSURANCE ASSN reported revenue and expenses across 2 filing years.
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