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How Long Can a Policy be Extended by Endorsement Before It Is Considered a Renewal?

Submitted by VLHudson on
Answer

DFR does not have a specific statutory or regulatory time frame for endorsement extensions. We would expect, given the requirements under 8 VSA 5025 related to the placement of insurance including due diligence with respect to the availability of insurance through admitted insurers, any extension would be for a limited time and only allowed as long as it did not adversely affect the insured or pose any violation under the unfair trade practices provisions of 8 V.S.A 4724.

Accordion to apply to