Vermont § 688 - Administrative penalties; insurance company’s license suspended

§ 688. Administrative penalties; insurance company’s license suspended

• (a) The Commissioner, after notice and opportunity for a hearing, may assess administrative
  penalties of not more than $5,000.00 against any employer, insurance company, or their
  agents that the Commissioner finds has refused or neglected to comply with the reasonable
  rules of the Commissioner or any orders issued by the Commissioner, or to adjust and
  pay compensation and medical bills in accordance with the provisions of this chapter. (b) The notice and opportunity for a hearing under this section shall be in accordance
  with 3 V.S.A. chapter 25. The Commissioner shall adopt rules regarding the amount
  and imposition of penalties. (c)(1) In addition to assessing administrative penalties, the Commissioner may refer to the
  Commissioner of Financial Regulation any insurance company authorized to transact
  workers’ compensation insurance in this State that refuses or neglects to comply with
  the reasonable rules of the Commissioner or that neglects or refuses to properly and
  promptly adjust and pay compensation and medical bills in accordance with the provisions
  of this chapter. (2) If, after hearing, the Commissioner of Financial Regulation finds that the insurance
  company has failed to comply with the rules or orders issued by the Commissioner of
  Labor or has failed to properly and promptly pay compensation and medical bills as
  provided by this chapter, the Commissioner of Financial Regulation may take appropriate
  action against the insurance company as provided in Title 8. (Amended 1989, No. 225 (Adj. Sess.), § 25(b); 1993, No. 225 (Adj. Sess.), § 15; 1995, No. 180 (Adj. Sess.), § 38(a); 2005, No. 103 (Adj. Sess.), § 3, eff. April 5, 2006; 2023, No. 85 (Adj. Sess.), § 145, eff. July 1, 2024.)