Welcome to BISHCA
The Department of Banking, Insurance, Securities and Health Care Administration (BISHCA) is a state agency that touches the lives of every Vermonter through the regulation and monitoring of a broad spectrum of financial and health industry activities.
The Department’s job is to protect consumers against unfair and unlawful business practices in the areas of banking, securities (investments) and insurance, while ensuring that licensed entities are financially healthy. The ongoing work of the Department on behalf of Vermonters helps consumers access financial and health related services with confidence that:
- Consumers are treated fairly, according to the terms of contracts and laws.
- Regulated companies, institutions and individuals operate within the law.
- Regulated entities operate in a financially sound manner, and remain able to deliver on consumers’ earnings, benefits, claims, or other services.
- Costs and services are reasonable for the marketplace.
The mission of the Banking Division is to protect consumers, regulate banking activities in Vermont, ensure soundness and stability of financial services providers, promote competition and availability of financial services, and educate the public.
The mission of the Insurance Division is to ensure that Vermont remains an attractive marketplace for insurance companies to do business while providing a high level of consumer protection for Vermont’s policyholders. The Division accomplishes its mission by licensing insurance companies and individuals, reviewing and approving insurance rates and policy forms, assisting Vermonters with insurance complaints, providing consumer education and enforcing violations of Vermont’s insurance laws and regulations.
The mission of the Captive Insurance Division is to maintain a regulatory system that attracts quality business to Vermont, promotes our reputation in the industry, and safeguards the solvency of captive insurers while recognizing the special purpose for which they were created.
The Securities Division regulates entities and individuals who offer, buy, sell, and/or provide advice on securities, such as stocks and bonds, or mutual funds. The mission of the Securities Division is to protect Vermonters and promote the legitimate formation of capital in this state.
The Division of Health Care Administration (HCA) has traditionally regulated providers of health insurance and managed care organizations. The Division has provided oversight of health care quality and expenditures through the certificate of need program and the unified health care budget, established and maintained consumer protection functions, collected and compiled data to assist in health care policy decision-making, and monitored quality assurance within the health care system. With the passage of Act 48, HCA will be working closely with the Green Mountain Care Board to coordinate these activities as called for in the legislation.