Proposed Rules and Public Comment

Proposed Rules

Administrative

Reg. DFR-2022-01, Vermont Department of Financial Regulation Administrative Procedures

The administrative procedures proposed here replace the current hearing procedures found in Department Regulation No. 82-1 (REVISED). This proposed rule establishes up-to-date, clear, and comprehensive processes for proceedings before the Department of Financial Regulation. It systematically describes processes in order to prevent confusion. For example, the current rule holds that a filing occurs when a document is received by the Commissioner, while the proposed rule describes the steps required to effectuate that receipt. The proposed rule takes into consideration the updates to technology by requiring electronic filings and allowing for remote hearings. Also, there are multiple additional sections to clarify how the Department handles issues such as defective filings, computation of time, postponement of hearings, and the like.

• Reg. DFR-2022-01, Filing to LCAR
• Proposed Reg. DFR-2022-01, Administrative Procedures

• Proposed Reg. DFR-2022-01, Administrative Procedures (Redline Version)

A public hearing will be held on October 12, 2021 at 10:00 AM. The hearing will be held in-person, with options to join remotely. 

• In-Person: 89 Main Street 3rd Floor, Montpelier, VT
• Remote Options:
  • ​Video and Audio Link: Microsoft Teams for Public Hearing 
  • Audio Only Call-in Information: +1 802-828-7667,,583222566#   United States, Montpelier | Phone Conference ID: 583 222 566#

Comment period ends on October 20, 2021. Please send your comments to Sheila Grace at sheila.grace@vermont.gov.

Insurance and Healthcare

Reg. H-2009-02, Health Care Stop Loss Insurance

This regulation applies to each health care stop loss insurance policy or contract that is delivered or issued for delivery by an insurer in Vermont. The proposed amendments to the rule: 1) increase minimum annual attachment points for claims incurred per individual; 2) increase the minimum annual aggregate attachment points; and 3) limit higher attachment points for any individual or group of individuals within small employer groups to three times the attachment point chosen for the policy.

Public Hearing and Comments

Due to a technical problem, most stakeholders were unable to attend the May 17, 2021 hearing to address the Department’s proposed changes to the Stop Loss Rule. The Department is therefore scheduling a second hearing on June 9, 2021 at 11:00 a.m via Microsoft Teams. Interested parties may attend the hearing using this link, or calling in by phone at +1 802-828-7667, Phone Conference ID: 968 334 889#.

Public comment period ends: June 7, 2021
Sebastian Arduengo (Sebastian.Arduengo@vermont.gov) is taking public comment.

Documents

• Reg. H-2009-02 Filing to ICAR
• Proposed Reg. H-2009-02 (Redlined Revisions)
• Reg. H-2009-02 Filing to SOS
• Proposed Reg. H-2009-02 to SOS
• Proposed Reg. H-2009-02 to SOS (Redlined Revisions)
• APA Forms
• Updated Rule as Proposed
• Redline
• All written public comments
• Letter from DFR regarding public comments

Banking

Currently, there are no proposed rules for the Banking Division. 

Captive Insurance

Currently, there are no proposed rules for the Captive Insurance Division. 

Securities

Currently, there are no proposed rules for theSecurities Division. 

Public Comment

No other comment opportunities available at this time.

Public Hearings

Employee Misclassification Task Force

The Employee Misclassification Task Force will hold two public hearings related to employee misclassification on Thursday, August 26, 2021 and Friday, August 27, 2021 from 11am-1pm (both days).

Please refer to the public notice at https://ago.vermont.gov/blog/2021/08/11/employee-misclassification-task-force-invites-public-comment/ for detailed information.