Vermont Tops List of Best-Regulated States

A conservative think tank is giving the state of Vermont high marks for insurance regulation.

The Chicago-based Heartland Institute says that Vermont has the best property and casualty insurance marketplace and the best regulators. The institute annually rates the states’ insurance departments against two criteria: How free are consumers to choose the property and casualty insurance products they want, and how free are insurers to provide the property and casualty insurance products consumers say they want?

The study by the Heartland also weighed factors such as “politicization” of the regulatory environment and “regulatory clarity.”

The Institute’s 2011 survey ranks Vermont highest among all states, giving the Green Mountain State an “A+”. Maine, which received an “A”, was also among the better-graded states nationwide. Ohio was the only other state to receive a grade of “A+”.

Massachusetts and New York received grades of “D-“, the two worst scores among the 12 east states ranked by the institute. A complete list of grades is below.

Vermont’s Department of Banking Insurance, Securities & Health Care Administration Commissioner Steve Kimbell says he’s not surprised by the ranking, and that it reflects the longstanding professionalism of his department’s insurance division.

Report Card

The Chicago-based Heartland Institute recently published a report card for each state’s P&C regulatory environment. East states are listed below.

Topics Legislation Property Casualty Vermont