The Vermont Department of Financial Regulation – Insurance Division (“DFR”) has recently issued Bulletin No. 236 regarding changes to competitive market filing requirements for property and casualty rates. The key highlights are as follows:
- Act 23 of 2025 revises to 8 V.S.A. § 4688(a), requiring subject insurers to submit their rates, supplementary rate information, and supporting information on a “file and use” basis instead of a “use and file” basis.
- Rates and all supporting information must be filed with the Commissioner not later than 30 days prior to the proposed effective date.
- A filing will not be considered completed until all requirements are submitted, including the correct filing fee and all required supporting information.
Please note that the changes to 8 V.S.A. § 4688(a) became effective on July 1, 2025.
For any questions related to the above referenced bulletin in Vermont, please contact Westmont Associates!