Vermont Statutes Title 8 Chapter 105, Secs. 3861-4002: Fire and Casualty Insurance

What this document is

Vermont Statutes Title 8 Chapter 105 - Fire and Casualty Insurance (Secs. 3861-4002) is a state statute published by Vermont General Assembly (Vermont Statutes Online). It is one of the Vermont documents that insurance license exam questions are written from, including vermont property & casualty, vermont personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Vt. Stat. tit. 8, § 3879(a) (Cancellation of fire and casualty insurance)

  “A notice of cancellation of a policy, to which section 3880 of this title applies, unless that policy is otherwise controlled by chapter 113, subchapter 2 of this title, shall be effective only if it is based on one or more of the following reasons: (1) nonpayment of premium; (2) fraud or material...”

• Vt. Stat. tit. 8, § 3880(a) (Notice of cancellation)

  “No notice of cancellation of a fire, casualty, marine, or multi-peril policy of insurance, unless otherwise provided and controlled by chapter 113, subchapter 2 of this title, shall be effective unless mailed or delivered by the insurer to the named insured at least 45 days prior to the effective...”

• Vt. Stat. tit. 8, § 3880(b) (Notice of cancellation; waiver)

  “The Commissioner shall have the authority to waive any provision of subsection (a) of this section upon the written request of an insurer specifying the reasons therefor.”

• Vt. Stat. tit. 8, § 3881 (Notice of nonrenewal)

  “No insurer shall refuse to renew a policy of insurance at its expiration or anniversary if written for a term of more than one year unless such insurer or its agent shall mail or deliver to the named insured at the address shown in the policy, at least 45 days' advance notice of its intention not...”

• Vt. Stat. tit. 8, § 3882(c) (Renewal policies; transfer to an affiliate)

  “An insurer may transfer a policy to an affiliate, as defined by subdivision 3681(1) of this title, upon expiration of the policy without providing notice of nonrenewal, provided that: (1) the rating by A. M. Best or a similarly qualified rating service of the affiliate is equal to or better than...”

• Vt. Stat. tit. 8, § 3885 (Penalties)

  “A person who violates a provision of section 3879, 3880, 3881, 3882, 3883, or 3884 of this title may be subject to an administrative penalty of $2,000.00 for each violation.”

• Vt. Stat. tit. 8, § 3867 (Proof of loss)

  “A fire insurance policy shall not be void by reason of failure to make and deliver a proof of loss to the insurer, until the insurer notifies the insured in writing to make and deliver proof of loss in accordance with the terms of the policy and the insured fails to make and deliver such proof of...”

• Vt. Stat. tit. 8, § 3882(b) (Renewal policies; insurer not confirming renewal)

  “An insurer not complying with subsection (a) of this section shall grant its insured renewal coverage at the rate or premium in effect under the expiring or expired policy or at rates lawfully in effect on the expiration date, which have been approved by the Commissioner. This shall be done on a...”

• Vt. Stat. tit. 8, § 3883 (Notice requirements)

  “When notice required under section 3880 or 3881 of this title is provided by mail, such notice shall be by certified mail, except that in the case of cancellation for nonpayment of premium, notice shall be by certified mail, certificate of mailing, or any other similar first-class mail tracking...”

• Vt. Stat. tit. 8, § 3884(a) (Required renewals; continuation of agents' contracts and brokers' accounts)

  “In the event of an insurer's cancellation of an agent's contract or a broker's account placement authority with such insurer, each policyholder of such an agent or broker shall be entitled to renew his or her policy, upon timely payment of premium, for one additional annual policy period commencing...”

• Vt. Stat. tit. 8, § 3964 (Appointment of appraisers to determine valuation)

  “The owner of a building and the insurance company or agent shall each file with the Commissioner a list of not less than three disinterested persons competent to act as appraisers of the building described in the notice. The Commissioner shall select one person from each of the lists so submitted...”

• Vt. Stat. tit. 8, § 3861 (Discrimination and rebates prohibited; same class)

  “A fire or casualty insurance company doing business in the State shall not make or permit any distinction or discrimination in favor of individuals, between insureds of the same class, in the amount or payment of premiums, or rates charged for policies of insurance”

Practice this material

Questions about this source

More Vermont sources

• Vt. Stat. Ann. tit. 8, ch. 103: Life insurance policy provisionsState statute
• Vt. Stat. tit. 8, s. 4723 - Unfair methods of competition or unfair or deceptive acts or practices prohibitedState statute
• Vt. Stat. tit. 8, s. 4724 - Unfair methods of competition or unfair or deceptive acts or practices definedState statute
• Vt. Stat. tit. 8, s. 4800 - License requirementsState statute
• Vt. Stat. tit. 8, s. 4804 - License denial, nonrenewal, or termination causesState statute
• Vermont Statutes Title 8 Chapter 107 - Health Insurance (Secs. 4011-4093)State statute
• Vermont Producer's Examination for Casualty Insurance (Series 14-42) - Exam Content OutlineCandidate handbook or exam outline
• Vermont Producer's Examination for Life, Accident, Health and HMO - Exam Content Outline (Series 14-29)Candidate handbook or exam outline