Vt. Stat. Ann. tit. 8, § 5033
Records of surplus lines broker
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
(1) Where Vermont is the home state of the insured, each surplus lines broker shall keep in his or her office a full and true record of each surplus lines insurance contract covering a domestic risk placed by or through him or her with a surplus lines insurer, including a copy of the daily report, if any, and showing such of the following items as may be applicable: amount of the insurance and perils insured;
(1) Where Vermont is the home state of the insured, each surplus lines broker shall keep in his or her office a full and true record of each surplus lines insurance contract covering a domestic risk placed by or through him or her with a surplus lines insurer, including a copy of the daily report, if any, and showing such of the following items as may be applicable: amount of the insurance and perils insured;
(2) brief description of property insured and its locations;
(2) brief description of property insured and its locations;
(3) gross premium charged;
(3) gross premium charged;
(4) any return premium paid;
(4) any return premium paid;
(5) rate of premium charged upon the several items of property;
(5) rate of premium charged upon the several items of property;
(6) effective date of the contract, and its terms;
(6) effective date of the contract, and its terms;
(7) name and post office address of the insured;
(7) name and post office address of the insured;
(8) name and post office address of the insurer;
(8) name and post office address of the insurer;
(9) name and post office address of brokerage house, if applicable, and name of licensed individual producer with whom business was placed;
(9) name and post office address of brokerage house, if applicable, and name of licensed individual producer with whom business was placed;
(10) amount collected from the insured; and
(10) amount collected from the insured; and
(11) other information as may be required by the Commissioner.
(11) other information as may be required by the Commissioner.
(12) The record of each contract shall be kept open to examination by the Commissioner without notice until three years next following termination of the contract. Added 1979, No. 50, § 2; amended 1979, No. 197 (Adj. Sess.), § 10; 2001, No. 97 (Adj. Sess.), § 19; 2011, No. 49, § 8, eff. May 26, 2011.
(12) The record of each contract shall be kept open to examination by the Commissioner without notice until three years next following termination of the contract.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.