The Vermont Statutes Online
The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Title 8 : Banking and Insurance
Chapter 113 : Liability Insurance and Service Contract Companies
Subchapter 003 : Assigned Risks
(Cite as: 8 V.S.A. § 4242)-
§ 4242. General provisions of Plan
The Plan shall provide:
(1) reasonable rules for the distribution of risks on an equitable basis under either a pooled or assigned plan;
(2) rates applicable to, and based upon, that class of risks as described in section 4241 of this title to which the Plan applies;
(3) limits of liability and coverages as described in section 4241 of this title that shall be not less favorable to the insured than is provided in 23 V.S.A. chapter 11, where that chapter is applicable to the insured;
(4) a method whereby applicants, insureds, and insurers are entitled to a hearing before the Commissioner of Financial Regulation, for the settlement of grievances. (Added 1969, No. 63, § 3; amended 1989, No. 225 (Adj. Sess.), § 25; 1995, No. 180 (Adj. Sess.), § 38; 2011, No. 78 (Adj. Sess.), § 2, eff. April 2, 2012.)
