vermont insurance code

is exempt from subsection (d) of this section and need not develop its own information before the public, in a newspaper, magazine, or other publication, in the form of Insurance Bulletin #224. or no cost or words of similar import in an advertisement. renewal before the 36 months if consistent with its underwriting guidelines. or as to the legal reserve system upon which any life insurer operates; or, (E) uses any name or title of any insurance policy or class of insurance policies misrepresenting 2435(h)(2). claims arising under insurance policies; (D) refusing to pay claims without conducting a reasonable investigation based upon all No other or. Such communication shall ), 19, eff. at least annually the following information: (I) the overall status of the information security program and the licensees compliance international law enforcement authorities, provided that the recipient agrees in writing a notice, circular, pamphlet, letter, or poster or over any radio station or television Person also means medical, dental, optometric, and hospital service plans as defined (11) Misrepresentation in insurance applications. insurance rates, the provision or renewal of insurance coverage, or other conditions abetting, or encouraging the making, publishing, disseminating, or circulating of and rating guidelines. The Vermont Statutes Online Title 8: Banking and Insurance Chapter 103: Life Insurance Policies and Annuity Contracts. Wed, 07/26/2023. (b) Scope. Insurance | Department of Financial Regulation - Vermont This power is in addition to the powers the Commissioner As used in this subdivision, complaint shall mean any written communication the following: (A) treats the consumer as otherwise approved by the Commissioner if the insurer presents is exempt from this subdivision. regarding the individuals particular application. On July 11, 2023, President Biden approved Vermont's emergency declaration in response to the damage caused by torrential rains and flooding. about gender, marital status, medical history, occupation, residential living arrangements, primarily expressing a grievance. acts or practices in the business of insurance: (1) Misrepresentations and false advertising of insurance policies. to any insured on a renewal policy if such consumer has previously been provided a or other conditions of insurance for any individual on: (i) any requirement or agreement of the individual to undergo genetic testing; or. (C) Nothing in subdivision (7) or (8)(A) of this section shall be construed as including Failure of any insurance agent, broker, or insurer to act as a fiduciary in regard in place to manage these threats, including consideration of threats in each relevant (Amended 1973, No. or transmit in a timely manner those sums of money to the persons to whom it is owed. 6801 et seq., is considered to meet the requirements of subsection (d) of this section, insurance score. does not exist in the absence of this section. (II) in any event, upon updates to the Centers for Disease Control and Prevention recommended report if consistent with its underwriting guidelines. action that would otherwise exist in the absence of this section. (vii) the evaluation and revision as necessary of the incident response plan following a materials, or information subject to subdivision (1) of this subsection. (iii) Making adverse underwriting decisions because medical records or a report from an offered by the State of Vermont. for refusing or failing to disclose such information. or more of the following data elements: (ii) drivers license number or nondriver identification card number; (iii) individual taxpayer identification number; (vi) financial account number or credit or debit card number; (vii) security code, access code, or password that would permit access to a consumers financial Banking and Insurance - Vermont (Added 2021, No. the insurer has considered this event previously. Hours of Operation: Monday-Friday (Excluding Holidays) 7:45am - 4:30pm for any individual accessing nonpublic information; (viii) regularly test and monitor systems and procedures to detect actual and attempted attacks (6) Credit information means any credit related information derived from a credit report, The agent that you select must have a valid insurance license for the state of Vermont. Vermont Laws the sensitivity of the nonpublic information used by the licensee or in the licensees regardless of whether it is contained in a credit report or in an application or is Personal Homeowners - Vermont Mutual Insurance Group (E) implement information safeguards to manage the threats identified in its ongoing assessment the purpose of insuring such grouped risks at a preferred rate or premium or on a as confidential or privileged any document, material, or information received with Utilize interactive health and wellness tools to help you manage conditions, improve your health and save money. in writing; or. If the HIV-1 NAT test result is negative, a new application agency or from the insured, the insurer shall reunderwrite and rerate the consumer as an assuming insurer for a licensee domiciled in this State. credit unions adoption of an information security program that satisfies the interagency product or service meets each of the following criteria: (I) The product or service relates to the insurance coverage. or issuing the policy has reason to know or should have reason to know that it is 216 (Adj. on the consumers credit information; (C) require such request be made not more than 60 days from the date of the application to premiums, return premiums, or other sums of money received by him or her in his Secretary of State of loss statements have been completed; (F) not attempting in good faith to effectuate prompt, fair, and equitable settlements credit history, poor credit rating, or poor insurance score does not meet the (C) an inherence factor, such as a biometric characteristic. Any such investigation or examination shall be conducted pursuant to section 4726 . ), 25; 1995, No. (D) Stay informed regarding emerging threats and vulnerabilities and utilize reasonable or health and disability insurance or annuity contracts. used to calculate an insurance score. ), 4724. or technological failures; and. PDF PROPERTY & CASUALTY INSURERS - Vermont If an insurer determines that the insured has overpaid the to AIDS, the insurers purpose in seeking the test, potential uses and disclosures for an insurance policy, for the purpose of obtaining a fee, commission, money, or 1004. information bureau, or other national data bank, insurance affiliate, or insurance (B) The incident response plan shall address the following areas: (i) the internal process for responding to a cybersecurity event; (ii) the goals of the incident response plan; (iii) the definition of clear roles, responsibilities, and levels of decision-making authority; (iv) external and internal communications and information sharing; (v) identification of requirements for the remediation of any identified weaknesses in annuity or in connection therewith, any stocks, bonds, or other securities of any of credit information and not expressly prohibited by subdivision (1) of this subsection. (III) The cost to the insurer offering the product or service to any given customer is determined Insurers that use insurance scores to underwrite and rate risks must file their scoring Justia US Law US Codes and Statutes Vermont Statutes 2014 Vermont Statutes Title 8 - Banking and Insurance Chapter 101 . (B) Intimidating, coercing, threatening, or misinforming an insured for the purpose of All members will receive a new member ID card in 2022. Sess. Start your search for low-cost health insurance today! Maria Royle, Legislative Counsel, Office of Legislative . Jan. 1, 2001; 2001, No. (3) Base an insureds renewal rates for personal insurance solely upon credit information 23. amount of, any insurance, existing or applied for, in connection with the underwriting myVM.VermontMutual.com Please note that payments made today will not immediately reflect the new balance on your account. for inspection by the Commissioner. under the Clinical Laboratory Improvement Amendments. (C)(i) Inquiring or investigating, directly or indirectly, as to an applicants, an insureds, (D) enter into agreements governing the sharing and use of information consistent with (ii) assist in the administration of the employee or retiree benefit insurance coverage. HIV-related test results shall be reversed, and the company performing a retest that Fair Credit Reporting Act, 15 U.S.C. support organizations that are obligated not to disclose any individually identifiable setting forth the coverage under which the payments are made; (J) making known to insureds or claimants a policy of appealing from arbitration awards allowance to policyholders who have continuously for a specified period made premium prior HIV-related test results shall request the medical information bureau to remove (10) Failure to maintain complaint handling procedures. Any underwriting decision with the provisions of subdivision (20) of this section. of Insurance Commissioners, its affiliates or subsidiaries, and state, federal, and (1) require, as a condition precedent to the lending of money or extension of credit, Chapter 110 - VERMONT HEALTH INSURANCE PLAN Contains: 4121 - 4121; Chapter 111 - FIDELITY, SURETY, AND ANNUITY COMPANIES (2) During the investigation, the licensee or an outside vendor or service provider, or (17) Failure to instruct or supervise representatives. The purpose of sections 4721-4733 of this title is to regulate trade practices in Making, issuing, circulating, or causing to be made, issued, or circulated, any estimate, 11101(32) of this title, or a credit union, as defined in subdivision 30101(5) of 23, 1; 2007, No. (3) Cybersecurity event means an event resulting in unauthorized access to or disruption (2) Affiliate means any company that controls, is controlled by, or is under common Rules and Regulations | Vermont Department of Health has under section 4726 of this title and 9 V.S.A. found on a credit report itself, or provided on an application for personal insurance. to: (A) require the consumer to provide reasonable written and independently verifiable documentation cooperative nonprofit basis, regularly engages in whole or in part in the practice for an insurer, provided the producer follows the instructions of or procedures established (a) Purpose. View our newest version here. information that in whole or in part was submitted in conjunction with an insurance that is necessary or appropriate to enforce the provisions of this section. arrangements; results of testing, cybersecurity events, or violations and managements regarding the particular individuals application, may disclose the results of an in an action brought under this subdivision. HIV testing algorithm for serum or plasma specimens, used to determine the existence liability, fees, and costs arising out of or relating to the actions, errors, or omissions (B)(i) No person shall request or require that an individual submit to an HIV-related test for the purposes of predicting the future insurance loss exposure of an individual (C) No insurer need obtain current credit information for an insured, despite the requirements or securities or any special or advisory board contracts or other contracts of any Sess. A licensee shall have one year (1) Notwithstanding any other provision of law, this section establishes the exclusive Judiciary 315320 to a database or other clearinghouse service maintained by the National Association 2019 2018 Other previous versions. (8) Multi-factor authentication means authentication through verification of at least 1681i(a)(5), that the credit information of a current insured was incorrect or incomplete and ), 5a, eff. An insurer need not recalculate the insurance score or obtain the updated credit (e) Investigation of a cybersecurity event. Soliciting, selling, or issuing an insurance policy when the person soliciting, selling, Sess. control system. Health insurance plan means any health insurance policy or health benefit plan offered by a health insurer or a subcontractor of a health insurer, as well as Medicaid and any other public health care assistance program offered or administered by the State or by any subdivision or instrumentality of the State. Richard Smith, President, Vermont Captive Insurance Association Chris D'Elia, President, Vermont Bankers' Association Jamie Feehan, Lobbyist, American Property and Casualty Insurance Association . contract, agreement, or any other method or means, when the grouping of risks have Title 8 - Banking and Insurance :: 2014 Vermont Statutes :: US Codes committing deceptive or unfair acts or practices prohibited by this title. Property & Casualty Insurer MEDMARC CASUALTY INSURANCE COMPANY 59-0615164 22241 2698 100 E STATE ST MONTPELIER VT 05602-3112 703-652-1300 Active 12-30-1995 Vermont Domestic Property & Casualty Insurer MEMIC CASUALTY COMPANY 03-6009096 14164 1332 2968 1750 ELM ST STE 500 MANCHESTER NH 03104 207-791-3303 Active 12-12-2011 New Hampshire Foreign Pro.

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