§ 4721. Purpose The purpose of sections 4721-4733 of this title is to regulate trade practices in the business of insurance in accordance with the intent of Congress as expressed in the Act of Congress of March 9, 1945 (Public Law 15, 79th Congress), by defining, or providing for the determination of practices in this […]
§ 4722. Definitions As used in this chapter: (1) “Person” means any individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds insurer, fraternal benefit society, and any other legal entity engaged in the business of insurance, including agents, brokers, appraisers, and adjusters. Person also means medical, dental, optometric, and hospital service plans as defined in this […]
§ 4723. Unfair methods of competition or unfair or deceptive acts or practices prohibited No person shall engage in any trade practice which is determined under this chapter to be an unfair method of competition or an unfair or deceptive act or practice in the business of insurance. (Amended 1973, No. 216 (Adj. Sess.), § […]
§ 4724. Unfair methods of competition or unfair or deceptive acts or practices defined The following are hereby defined as unfair methods of competition or unfair or deceptive acts or practices in the business of insurance: (1) Misrepresentations and false advertising of insurance policies. Making, issuing, circulating, or causing to be made, issued, or circulated, […]
§ 4725. Favored agent or insurer; coercion of debtors (a) No person may: (1) require, as a condition precedent to the lending of money or extension of credit, or any renewal thereof, that the person to whom such money or credit is extended or whose obligation the creditor is to acquire or finance, negotiate any […]
§ 4726. Power of Commissioner; enforcement (a) The Commissioner shall have the power to examine and investigate any person engaged in the business of insurance in this State in order to determine whether that person has been or is engaged in any unfair method of competition or in any unfair or deceptive act or practice. […]
§ 4727. Personal insurance; use of credit information (a) Purpose. The purpose of this section is to regulate the use of credit information for personal insurance so that consumers are afforded certain protections with respect to the use of such information. (b) Scope. This section applies to personal insurance and not to commercial insurance. As […]
§ 4728. Insurance Data Security (a) Title. This section shall be known and may be cited as the “Vermont Insurance Data Security Law.” (b) Construction. (1) Notwithstanding any other provision of law, this section establishes the exclusive State standards applicable to licensees for data security and for the investigation of a cybersecurity event. (2) This […]
