Vermont § 8203 - Definitions As used in this chapter:

§ 8203. Definitions As used in this chapter:

• (1) “Assuming insurer” means the insurer that acquires an insurance obligation or risk
  from the transferring insurer pursuant to an assumption reinsurance agreement. (2) “Assumption reinsurance agreement” means any contract, whether or not coupled with
  a reinsurance or indemnity agreement, that: (A) transfers insurance obligations or risks of existing or in-force contracts of insurance
  from a transferring insurer to an assuming insurer; and (B) is intended to effect a novation of the transferred contract of insurance with the
  result that the assuming insurer becomes directly and solely liable to the policyholders
  of the transferring insurer and the transferring insurer’s insurance obligations or
  risks under the contracts are extinguished. (3) “Contract of insurance” means any written agreement between an insurer and policyholder
  pursuant to which the insurer, in exchange for premium or other consideration, agrees
  to assume an obligation or risk of the policyholder or to make payments on behalf
  of, or to, the policyholder or any beneficiary. “Contract of insurance” includes all
  property, casualty, life, health, accident, surety, title, and annuity business authorized
  to be written pursuant to the insurance laws of this State. (4) “Home service business” means insurance business on which premiums are collected on
  a weekly or monthly basis by an agent of the insurer. (5) “Notice of transfer” means the written notice to policyholders required by subsection 8204