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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 8 : Banking and Insurance

Chapter 128 : PROPERTY AND CASUALTY INSURANCE RATE REGULATION

Subchapter 001 : Insurance Rates and Statistics

(Cite as: 8 V.S.A. § 4694)
  • § 4694. Residual market mechanism status

    All insurers authorized to write insurance which is subject to this chapter may establish and participate in a plan providing for the equitable apportionment among them of insurance which may be afforded applicants who are in good faith entitled to, but who are unable to, procure such insurance through ordinary methods. A plan shall be submitted for the Commissioner's prior approval, unless already existing on July 1, 1984. The rates, supplementary rate information, and policy forms to be used in such a plan and any future modification thereof must be submitted to the Commissioner for approval in accordance with sections 4686, 4687, and 4688 of this title. (Added 1983, No. 238 (Adj. Sess.), § 1.)