Cancellation, Nonrenewal, and Renewal of Surplus Lines Contracts

VERMONT State of Vermont Department of Financial Regulation 89 Main Street Montpelier, VT 05620-3101 www.dfr.vermont.gov For consumer assistance [All Insurance] 800-964-1784 [Securities] 877-550-3907 [Banking] 888-568-4547 # Vermont Department of Financial Regulation Division of Insurance Insurance Bulletin No. 176 # Cancellation, Nonrenewal and Renewal of Surplus Lines Contracts The purpose of this bulletin is to remind surplus lines insurers and surplus lines brokers that Vermont law governing the cancellation, nonrenewal and renewal of insurance policies does apply to any surplus lines contract where the State of Vermont is the home state of the insured. Insurers and surplus lines brokers should review their procedures to ensure they conform to the law. The relevant law is Title 8 V.S.A. §§ 3879-3883, governing the termination of fire and casualty insurance and Title 8 V.S.A. §§ 4711-4715, governing the termination of commercial risk insurance. Susan L. Donegan Effective Date: June 3, 2013  Banking 802-828-3307 Insurance 802-828-3301 Captive Insurance 802-828-3304 Securities 802-828-3420 Health Care Admin 802-828-2900