Vermont’s regulatory agency that oversees the state’s banking, insurance and securities sectors has adopted a new name this week.
The agency, which used to be called the Vermont Department of Banking, Insurance, Securities & Health Care Administration (BISHCA), has been renamed the Vermont Department of Financial Regulation, as of April 4.
The department’s website tells visitors: “If you were looking for the BISHCA website, you’re not lost. [BISHCA] is now the Vermont Department of Financial Regulation. This site will continue to provide the same information and services as before but under a new name.”
In addition to being shorter and simpler, the new name is also more appropriate because much of the agency’s oversight responsibilities for the healthcare sector has now been moved to the state’s Green Mountain Care Board (GMCB), according to the department. GMCB was created by the Vermont legislature last year to oversee the design of Green Mountain Care, a comprehensive, statewide health care system.