Regulatory Alerts2026-05-22
Added · Updated
Stipulation and Consent Order Regarding Homesite Insurance Company
The Vermont Department of Financial Regulation issued a Consent Order against Homesite Insurance Company for improperly canceling homeowners' policies in effect for 60 days or longer without required prior approval and failing to properly document cancellation notices. Under the agreement, the insurer must pay a $4,250 civil penalty to the state and $750 to the Vermont Financial Services Education and Victim Restitution Fund within ten days while formally waiving its right to a hearing or judicial review. The order mandates ongoing compliance with Vermont insurance laws and reserves the Commissioner’s authority to pursue additional enforcement actions, restitution, or enhanced penalties for any future or unresolved violations.