The Vermont Statutes Online
The Statutes below include the actions of the 2025 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.
Subchapter
001
:
INSURANCE RATES AND STATISTICS
(Cite as: 8 V.S.A. § 4694)
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§ 4694. Residual market mechanism status
All insurers authorized to write insurance that is subject to this chapter may establish
and participate in a plan providing for the equitable apportionment among them of
insurance that 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.)