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The Vermont Statutes Online

 

Title 8 : Banking and Insurance

Chapter 101 : INSURANCE COMPANIES GENERALLY

Subchapter 007 : Examination and Reports

(Cite as: 8 V.S.A. § 3567)
  • § 3567. Liquor liability insurance records

    (a) All insurers licensed to sell insurance, including nonadmitted insurers with whom certain types of insurance may be placed as permitted by chapter 138 of this title, shall submit the following liquor liability insurance statistics to the Commissioner of Financial Regulation who shall collect and maintain records on the following:

    (1) the number of policies written, premiums written, and premiums earned for liquor liability insurance;

    (2) the number of claims paid and dollar amount of claims paid; and

    (3) the number of claims incurred and dollar amount of claims incurred.

    (b) The Commissioner of Financial Regulation shall make available to the General Assembly the information collected and maintained under this section. The Commissioner shall report to the General Assembly the number of companies writing liquor liability insurance.

    (c) If an insurer cannot determine the amount of premiums written or premiums earned because the liquor liability coverage is part of a policy or policies providing other liability coverage, reasonable methods of estimation may be used as approved by the Commissioner of Financial Regulation.

    (d) "Liquor liability insurance" means that type of liability insurance which covers the selling or serving of alcoholic beverages for a consideration and includes policies which provide other liability coverage in addition to liquor liability insurance. (Added 1987, No. 103, § 5; amended 1989, No. 155 (Adj. Sess.), § 1; 1989, No. 225 (Adj. Sess.), § 25(b); 1995, No. 180 (Adj. Sess.), § 38(a).)