Insurance

Regulatory Oversight

The Insurance Division regulates the insurance industry in Vermont and protects the public in these general areas:

• Solvency laws require insurance companies to operate in a fiscally responsible manner so that, after taking their customers' money (premiums), they can be counted on to pay claims down the road.
• Consumer protection laws require companies to sell legal insurance products through licensed producers, treat consumers fairly, and pay claims in a timely manner. 
• Health insurance laws require that consumers are afforded full disclosure of information, a full and fair review of a grievance and that health plans meet quality and access standards for care.
• Health insurance plans are audited annually and periodically by the Insurance Division for compliance with Vermont regulations.          
• All insurance policies sold in Vermont are reviewed and approved by the Insurance Division to ensure that they provide the protections required by Vermont law.

Insurance Reports

• Medical Malpractice Issues and Insurance Study
• Vermont Mandatory Reporting (Liquor Liability Report)

Other Reports

• Legislative Reports
• List of Insurance Licensees

Biography for Deputy Commissioner Kevin Gaffney

Kevin was appointed Deputy Commissioner of Insurance at DFR by Governor Phil Scott in March 2019. Prior to the appointment, he has worked as Director in the Rates & Forms section of the Vermont Insurance Division for over 12 years. Kevin has been responsible for rate and form analysis as well as monitoring of competition in the marketplace, while leading the Rate & Form Analysis Team. In addition, Kevin has served as Director of the Producer & Individual Licensing section. Additionally, Kevin had responsibility of Market Conduct for Property & Casualty Lines as Director of Market Regulation.    

Prior to working for the State of Vermont, Kevin had 23 years of industry experience, in various marketing, underwriting and product management positions in CT & VT. Kevin began his insurance career in CT as a multi-line (P&C, L&H) insurance agent.

Kevin serves as technical expert for the Insurance Division on a variety of insurance issues, assisting with the development of departmental positions expressed through regulations, bulletin or filing requirement. Kevin also assists the department with bill analysis and testimony during the Legislative session.

Kevin has been a key participant in several legislative summer studies conduct by DFR including Credit for Personal Insurance and Workers’ Compensation Insurance. Additionally, he serves on the Governor’s Workers’ Compensation Insurance and Logger Safety Task Force.

A graduate of John Jay College and lifelong New Englander, Kevin is a native of CT and has lived in VT since 1994. He and his wife Veronica have three children and four grandchildren.