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
:
PRODUCERS
(Cite as: 8 V.S.A. § 4807)
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§ 4807. Surplus lines insurance broker
(a) Every surplus lines insurance broker who solicits an application for insurance of
any kind, in any controversy between the insured or his or her beneficiary and the
insurer issuing any policy upon such application, shall be regarded as representing
the insured and his or her beneficiary and not the insurer; except any insurer that
directly or through its agents delivers in this State to any surplus lines insurance
broker a policy or contract for insurance pursuant to the application or request of
the surplus lines insurance broker, acting for an insured other than himself or herself,
shall be deemed to have authorized the surplus lines insurance broker to receive on
its behalf payment of any premium that is due on the policy or contract for insurance
at the time of its issuance or delivery.
(b) [Repealed.]
(c) Notwithstanding any other provision of this title, a person licensed as a surplus
lines insurance broker in his or her home state shall receive a nonresident surplus
lines insurance broker license pursuant to section 4800 of this chapter.
(d) Not later than July 1, 2012, the Commissioner shall participate in the national insurance
producer database of the NAIC, or any other equivalent uniform national database,
for the licensure of surplus lines brokers and the renewal of such licenses. (Added 1973, No. 217 (Adj. Sess.), § 17; amended 1981, No. 210 (Adj. Sess.), § 2; 2001, No. 97 (Adj. Sess.), § 14; 2009, No. 137 (Adj. Sess.), § 9a; 2011, No. 49, § 12, eff. May 26, 2011.)