The Department of Banking, Insurance, Securities and Health Care Administration (BISHCA) protects consumers against unfair and unlawful business practices in the areas of banking, securities, and insurance, while ensuring that licensed entities are financially healthy.
Property and casualty insurers doing business in Vermont are advised that new rules governing the filing of policy forms, rates and supporting rate information with the Insurance Division will go into effect on May 15, 2011.The new rules are the result of the adoption of Regulation I-2010-03 (“Property & Casualty Insurance Filing Procedures & Reporting Requirements”), which replaces the Department’s existing filing regulation, I-85-1. Regulation I-2010-3 is intended to modernize the rate and form filing process in Vermont, make it easier for the Department to exercise its regulatory authority, and make it easier and less costly for insurance companies to do business in the state.
Please refer to Bulletin 160 for a general overview of the key changes within Regulation I-2010-03.
