The Department of Financial Regulation is a state agency that touches the lives of every Vermonter through the regulation and monitoring of a broad spectrum of financial services activities. The chief regulator of the Department is Commissioner Susan L. Donegan.
The Department’s job is to protect consumers against unfair and unlawful business practices in the areas of banking, securities (investments) and insurance, while ensuring that licensed entities are financially healthy. The ongoing work of the Department on behalf of Vermonters helps consumers access financial services with confidence that:
Consumers are treated fairly, according to the terms of contracts and laws.
Regulated companies, institutions and individuals operate within the law.
Regulated entities operate in a financially sound manner.
Purpose: The purpose of this bulletin is to notify health insurers that pursuant to Act 107 of 2012, An Act Relating to Telemedicine, all health insurance plans issued in Vermont must include coverage for telemedicine services.
Clifford Peterson, DFR general counsel, 802-828-1316
MONTPELIER – The Vermont State Employees Credit Union (VSECU) and the Vermont Department of Financial Regulation (DFR) announced Oct. 5, 2012, that an agreement has been reached on when VSECU and other state-chartered credit unions can use the words “bank,” “banking” and similar words. Vermont state statutes prohibit credit unions from using such words unless the commissioner of DFR finds the use would not be misleading or confuse consumers as to the nature of the institution.
The state of Vermont has been awarded the top US Domicile for “excellence in captive insurance services.” The award was presented by Captive Review Magazine during the inaugural U.S. Captive Services Awards on Sept. 10, in Chicago. The awards ceremony was attended by more than 200 captive management professionals.
In 2011 alone, severe weather disasters across the country inflicted more than $43 billion in damage. But research suggests that more than half of consumers do not have an inventory of their possessions. Creating a simple home inventory helps you track what you own and what it is worth, making important insurance decisions easier.
Wildfires, flooding, tornadoes, hurricanes - disasters strike everywhere in the U.S. That's why it is improtant to make sure your insurance needs are in order, especially your homeowners' or renter's policies. The Department of Financial Regulation, Division of Insurance encourages you to take some time to refamilarize yourself with your policies and to address any questions with your insurance agent or company.