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Vt. Stat. Ann. tit. 8, § 4681

Purposes

Added 1983, No. 238 (Adj

The purposes of this chapter are:

(1) to prohibit price fixing agreements and other anticompetitive behavior by or among insurers;

(2) to protect policyholders and the public against the adverse effects of excessive, inadequate, or unfairly discriminatory rates;

(3) to promote price competition among insurers so as to provide rates that are responsive to competitive market conditions;

(4) to provide regulatory controls in the absence of competition;

(5) to promote availability, fairness, and reliability of insurance;

(6) to authorize cooperative action among insurers in ratemaking and to regulate such activity to prevent practices that tend to substantially lessen competition or create a monopoly; and

(7) to cause the availability of price and other information to enable the public to purchase insurance suitable for their needs and to foster competitive insurance markets.

Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.