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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

128

:
PROPERTY AND CASUALTY INSURANCE RATE REGULATION






Subchapter

003
:
CANCELLATIONS OF POLICIES










 

§

4712. Notice of cancellation

(a) No notice of

cancellation of a policy to which section 4711 of this title applies shall be

effective unless mailed or delivered by the insurer to the named insured at

least 45 days prior to the effective date of cancellation, provided, that where

cancellation is for nonpayment of premium, at least 15 days' notice of

cancellation shall be given.

(b) In all

instances, the reason or reasons for cancellation shall accompany or be

included in the notice of cancellation. An insurer shall not be held liable in

any claim or suit for damages arising solely from the insurer's compliance with

the requirement that the reason for cancellation be specified.

(c) The

Commissioner shall have the authority to waive any provision of subsection (a)

or (b) of this section upon the written request of an insurer specifying the

reasons therefor.

(d) This section

shall not apply to nonrenewal. (Added 1985, No. 265 (Adj. Sess.), § 3.)