Life can be crazy. Insurance is our safety net. However, when an insurance company uses deception in issuing their plans, premium holders are often left holding the bag when their lives need the insurance the most. Vermont insurance fraud laws protect consumers from these fraudulent sellers by hitting violators with strong prison sentences and fines. This is a quick summary of the insurance fraud laws in Vermont.
Check Licenses To Avoid Being a Victim of Vermont Insurance Fraud
Fraudulent insurance sellers attack the uninformed through layers of deception. They try to trick the buyer into believing that their insurance deals really aren't too good to be true. Buyers can avoid these fraudulent deals by verifying that the seller is actively licensed to do business by the Vermont Department of Financial Regulation before signing any agreement. If a seller is not on the state's list, it may be a warning flag worth investigating.
The following table outlines the specifics of Vermont insurance fraud laws.
| Code Sections | 13 V.S.A §2031: Insurance Fraud |
| What's Prohibited? | Vermont insurance fraud laws state that no person shall, with intent to defraud:
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| Penalty | If the benefit wrongfully obtained or the loss suffered by the victim has a value of:
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If you are a victim of insurance fraud, contact the Vermont Insurance Division's consumer services section by calling 1-800-964-1784 or by filing a complaint online. If you have been accused of violating an insurance fraud law and would like legal assistance, you can contact a Vermont criminal defense lawyer through FindLaw. Visit FindLaw's sections on insurance fraud and other fraud and financial crimes for more articles and information on this topic.
