Fire Loss Report Form (DPS 508) No Longer Required

Vermont Department of Banking, Insurance, Securities & Health Care Administration Bulletin No. 140: Fire Loss Report Form [DPS 508] No Longer Required May 20, 2002 Effective immediately, the Vermont Insurance Division no longer requires insurers to routinely report fire loss claims in excess of $200 to the Department of Public Safety. Fire Loss Report Form 508 had been used for the purpose and has now been abolished. Data relating to fire losses is now chiefly collected via other channels by state fire marshals. Vermont Insurance Bulletin 53 relating to the requirement to file this form has been withdrawn. Bear in mind that state statutes do require insurers to furnish a variety of documents relating to fire losses when and as required. Title 20VSA, Sec. 2688 says: “When required by the commissioner [of Public Safety], a fire insurance company or association transacting business in this state shall report to such Commissioner, after the adjustment of a loss, the amount of all policies issued by such company or association on the property destroyed or damaged, the amount paid or payable on the account of such loss, and such other information relating the matter as the Commissioner may require.” Title 8 Sec. 3671 says: “…Upon written request, an insurance company, its agents, adjusters or brokers shall furnish to a law enforcement officer, state’s attorney or the attorney general any and all information pertaining to a fire loss under investigation….” ______________________________________________ Elizabeth R. Costle, Commissioner