Licensing Requirements: Surplus lines brokers are required to be licensed under Vermont law. To be licensed as a resident broker, an applicant must possess a Vermont insurance producer license. Vt.
Does the state impose a fiduciary obligation on producers with respect to the handling of client funds (e.g. funds, monies, premiums and return premiums)? Yes. Every producer (acting as a
May producers both charge a fee and collect a commission in connection with transactions and services provided to a particular client? Insurance producers may charge fees for procuring, servicing, or
An agent or broker must enter into a prior written agreement with a client in order to charge a fee to be paid by the client. Vt. Stat. Ann. tit. 8,
What entities are covered? “[A]ny data collector* that owns or licenses computerized personal information that includes personal information concerning a consumer.” § 2435(b)(1). Data collector “means a person who, for