Key Takeaways
- The Vermont Department of Financial Regulation (DFR) regulates all insurance activities in the state
- The Commissioner of Financial Regulation is APPOINTED by the Governor (not elected)
- Vermont is known as a major captive insurance domicile
- The DFR handles producer licensing, insurer regulation, and consumer protection
- Insurance Division is one of several divisions within the DFR
Last updated: January 2026
Vermont Department of Financial Regulation
national Life & Health exam preparationFree exam prep with practice questions & AI tutor
The Vermont Department of Financial Regulation (DFR) serves as the primary regulatory agency for insurance and other financial services in the state.
Department of Financial Regulation (DFR)
The Vermont Department of Financial Regulation is responsible for:
- Licensing and regulating insurance producers and agencies
- Monitoring insurer solvency and financial condition
- Reviewing and approving insurance rates
- Approving policy forms
- Regulating Vermont's captive insurance industry
- Investigating consumer complaints
- Enforcing insurance laws and regulations
DFR Leadership
The Commissioner of Financial Regulation is:
- APPOINTED by the Governor
- Not elected by voters
- Serves at the pleasure of the Governor
- Oversees all DFR divisions including Insurance
Exam Tip: Vermont's Commissioner of Financial Regulation is APPOINTED by the Governor, not elected. Vermont is one of approximately 39 states with an appointed insurance commissioner.
DFR Divisions
The DFR is organized into several divisions:
| Division | Responsibility |
|---|---|
| Insurance | Producer licensing, insurer regulation |
| Captive Insurance | Vermont's captive insurance industry |
| Banking | Bank and credit union regulation |
| Securities | Securities and investment regulation |
Vermont's Captive Insurance Industry
Vermont is a leading captive insurance domicile:
- One of the largest captive insurance jurisdictions in the world
- Over 1,100 captive insurance companies domiciled in Vermont
- Separate regulatory division dedicated to captives
Contact Information
- Address: 89 Main Street, Montpelier, VT 05620-3101
- Email: dfr.producerlicensing@vermont.gov
- Phone: (802) 828-3301
- Website: dfr.vermont.gov
Loading diagram...
Test Your Knowledge
How is the Vermont Commissioner of Financial Regulation selected?
A
B
C
D
Test Your Knowledge
What is Vermont known for in the insurance industry?
A
B
C
D
Test Your Knowledge
Which agency regulates insurance in Vermont?
A
B
C
D