Vermont Statutes Title 8 Sec. 5025
Terms Used In Vermont Statutes Title 8 Sec. 5025
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Home state: means , with respect to an insured:
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 5025. Exceptions concerning placement of insurance with non-admitted insurers; records
The provisions of this chapter controlling the placement of insurance with non-admitted insurers shall not apply to life insurance, health insurance, annuities, or reinsurance, nor to the following insurance when so placed by any licensed producer in this State:
(1) insurance on subjects whose home state is other than Vermont;
(2) insurance on the property or operations of aircraft or railroads engaged in transportation in interstate and foreign commerce; or
(3) insurance of vessels, crafts or hulls, cargoes, marine builder’s risks, marine protection and indemnity, or other risks, including strikes and war risks commonly insured under ocean or wet marine forms of policy. (Added 1979, No. 50, § 2; amended 2001, No. 97 (Adj. Sess.), § 19; 2011, No. 49, § 4, eff. May 26, 2011.)