Insurance

Section 1.  Purpose

The purpose of this rule is to implement Title 8 V.S.A. 5102b(1) to promulgate solvency standards for the licensure of provider sponsored organizations for purposes of the Medicare + Choice program.

Section 2.  Authority

This rule is issued pursuant to the authority vested in the Commissioner under Title 8 V.S.A. 5102b(1).

Section 3.  Applicability and Scope

This rule is only applicable to provider sponsored organizations applying for licensure in Vermont that intend to offer solely the Medicare + Choice program.

Repealed by Operation of Law - Viatical Settlements

Attachment A 
Attachment B

Section 1.  Purpose

Section 1.  PURPOSE AND AUTHORITY.

Section 1.  Purpose
A.  The purpose of this regulation is to provide:
(1)  Tables of select mortality factors and rules for their use;
(2)  Rules concerning a minimum standard for the valuation of plans with non-level premiums or benefits; and
(3)  Rules concerning a minimum standard for the valuation of plans with secondary guarantees.
B.  The method for calculating basic reserves defined in this regulation will constitute the Commissioners' Reserve Valuation Method for policies to which this regulation is applicable.
Section 2.  Authority

Section 1.  Purpose

§ 1.  Purpose

This regulation is intended to implement the provisions of Title 8, Chapter 101, subchapter 3A.

§ 2.  Authority

This regulation is issued pursuant to the authority vested in the Commissioner of Banking, Insurance, Securities and Health Care Administration by Title 8, Section 75 and Chapter 101, subchapter 3A and subchapter 13.

Section 1.  Purpose

The purposes of this regulation are to require and set forth the rules for the calculation and filing of Risk Based Capital (RBC) reports and establish related procedural requirements of RBC for certain property and casualty insurers. The related procedural requirements of the regulation do not apply to domestic risk retention groups. This treatment for domestic risk retention groups is not intended to alter the commissioner's authority with respect to domestic risk retention groups.

Section 2.  Authority

Section 1.  Purpose.

The purposes of this regulation are to prescribe:

A.  Requirements for statements of actuarial opinion which are to be submitted in accordance with 8 V.S.A. §3561, §3577, subchapter 4 of Chapter 103 and Chapter 121 and for memoranda in support thereof;
B.  Rules applicable to the appointment of an appointed actuary; and
C.  Guidance as to the meaning of "adequacy of reserves."
Section 2.  Authority.

VERMONT DEPARTMENT OF FINANCIAL REGULATION REGULATION 97-3 (REVISED 2020)

CREDIT FOR REINSURANCE

Table of Contents Section 1.        Authority

Section 2.        Purpose

Section 3.        Severability

Section 4.        Credit for Reinsurance - Reinsurer Licensed in this State Section 5.    Credit for Reinsurance - Accredited Reinsurers

Section 6.        Credit for Reinsurance - Reinsurer Domiciled and Licensed in Another State Section 7.     Credit for Reinsurance - Reinsurers Maintaining Trust Funds

Section 1.  Purpose and Authority

Department of Banking, Insurance, Securities and Health Care Administration

Regulation 97-1-I RULES PROVIDING FOR OVERSIGHT OF FEES CHARGED BY THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS AND RETALIATORY ACTION BY THE STATE OF VERMONT

This regulation is promulgated pursuant to Title 8 Sections 3367 and 3552, and in accordance with the findings and purpose of the General Assembly as set forth in Act No. 83 of the 1995 Adjourned Session.

Section 2.  Authorized Fees