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
003
:
FORMAL PROCEEDINGS
(Cite as: 8 V.S.A. § 7071)
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§ 7071. Reinsurer’s liability
The amount recoverable by the liquidator from reinsurers shall not be reduced as a
result of the delinquency proceedings, regardless of any provision in the reinsurance
contract or other agreement. Payment made directly to an insured or other creditor
shall not diminish the reinsurer’s obligation to the insurer’s estate except when
the reinsurance contract provided for direct coverage of a named insured and the payment
was made in discharge of that obligation. (Added 1991, No. 45, § 2, eff. May 29, 1991.)