Act No. 49 (S.36). Insurance; surplus lines; multi-state compact

This act adopts the surplus lines insurance multi-state compliance compact. The compact allows participating states to collect and allocate surplus lines insurance premiums among member states according to uniform standards and formulas. If, however, the compact does not take effect for lack of state membership, the Vermont commissioner of banking, insurance, securities, and health care administration is authorized to enter into some other multi-state agreement, provided it is in Vermont's financial best interest; does not create an undue administrative burden on the state; is consistent with the requirements of the Non-Admitted and Reinsurance Reform Act of 2010; and is approved by the joint fiscal committee, in consultation with the chairs of the relevant legislative committees of jurisdiction.

Effective Date: May 26, 2011

Also see: Banking; Act No. 21 (H.438). Banking, insurance, securities, and health care administration

Also see: Health; Act No. 35 (S.15). Health; health insurance; midwives; maternity; births; birth certificates

Also see: Health; Act No. 48 (H.202). Health; health insurance; health care reform; health benefit exchange; Green Mountain Care; Medicaid; payment reform; health information technology; health care workforce; rate review

Also see: Health; Act No. 51 (S.104). Health; prescription drugs; prescribed products; marketing; gift ban; disclosure; cost-sharing; prior authorization

Also see: Human Services; Act No. 60 (H.201). Human services; palliative care; hospice; DNR order; COLST order