This regulation sets forth the requirements pertaining to: licensing of viatical settlement providers and viatical settlement brokers; viatical settlement contracts and payouts; reporting; examination; marketing; advertising; disclosure; and rules applicable to life insurers which facilitate viatical settlement transactions.
This bulletin authorizes a process for an insured to consent to rates not otherwise approved for risk which is deemed not acceptable at filed rates. 51 Consent to Rate (6-16-80).
This bulletin requires insurance companies notify the Department of regulatory actions taken by another insurance department against the company, such as the imposition of a fine or penalty, the execution of a consent order, or placing the company in "conservatorship". 30 Legal Actions Involving Other Insurance Departments (3-19-75).
This bulletin construes the Insurance Trade Practices Act to prohibit insurance producers from using terms to identify themselves such as "financial planner" or "estate planner" and other titles which can be misleading unless other appropriate certifications or licenses have been attained. 22 Proper Identification by Insurance Producers (12-16-74)
This bulletin notifies insurers of actions taken by the 1996-1997 Legislative Session which affect insurers doing business in Vermont. 116 Actions of the 1996-1997 Legislative Session Which Affect Insurers Doing Business in Vermont (Sept. 1, 1997).
The Insurance Division regulates the insurance industry in Vermont and protects the public in these general areas:
Solvency laws require insurance companies to operate in a fiscally responsible manner so that, after taking their customers' money (premiums), they can be counted on to pay claims down the road.
Consumer protection laws require companies to sell legal insurance products through licensed producers, treat consumers fairly, and pay claims in a timely manner.
