Vermont Statutes Title 8. Banking and Insurance, § 4750. Insurer anti-fraud plans

(a) Every insurer with direct written premiums shall prepare, implement, and maintain an insurance anti-fraud plan. Each insurer's anti-fraud plan shall outline specific procedures, appropriate to the type of insurance the insurer writes in this State, to:

(b) The Commissioner may require an insurer to file annually its anti-fraud plan with the Department and an annual summary of the insurer's anti-fraud activities and results, including misclassification and miscoding. A workers' compensation insurer shall file an anti-fraud plan with the Department of Labor, including information about fraud investigations, referrals, or prosecutions involving Vermont workers' compensation claims, misclassifications, and miscoding, if requested by the Commissioner of Labor. Information regarding fraud investigations and referrals shall not be public unless the Commissioner of Labor or the Attorney General commences administrative or criminal proceedings. As used in this subsection:

(c) This section confers no private rights of action. This section does not affect private rights of action conferred under other laws or court decisions.

(d) Enforcement. Notwithstanding any other provision of this title, the following are the exclusive monetary penalties for violation of this section. Insurers that fail to prepare, implement, maintain, or submit to the Department of Financial Regulation an insurance anti-fraud plan are subject to a penalty of $500.00 per day, not to exceed $10,000.00.