§ 1765 - Liability insurance - Vermont Statutes

§ 1765. Liability insurance

(a) If the commissioner of banking, insurance, securities, and health care administration determines that lead-based paint hazards have substantially diminished the availability of liability insurance for owners of rental property or child care facilities and that a voluntary market assistance plan will not adequately restore availability, the commissioner shall order liability insurers to provide or continue to provide liability coverage or to participate in any other appropriate remedial program as determined by the commissioner, provided the prospective insured is otherwise in compliance with the provisions of this chapter.

(b) A determination pursuant to subsection (a) of this section shall be made by the commissioner after a hearing held in accordance with 3 V.S.A. chapter 25. Upon a finding that emergency action is required to protect the public health, safety or welfare, the commissioner shall issue an appropriate summary order pending completion of administrative proceedings. No order issued under this section may be stayed pending appeal. (Added 1995, No. 165 (Adj. Sess.), § 12; amended 1995, No. 180 (Adj. Sess.), § 38(a).)