The Vermont Department of Economic Development (DED) has hired Brittany Nevins as the new Captive Insurance Economic Development director. She replaces Ian Davis, Vermont’s former director of Financial Services.
Nevins will be responsible for the marketing and business development of Vermont’s captive insurance industry, working closely with the Department of Financial Regulation and the Vermont Captive Insurance Association to continue to strengthen the state’s reputation as an onshore captive insurance domicile.
Nevins brings experience in the economic development and regulatory sectors to her new role. Located in Texas for the last two years, Nevins served as the Community and Economic Development specialist for Travis County, Texas, managing its property tax rebate program for businesses that sought to develop in the Austin region.
Prior to that, she was a Policy specialist for the Texas Health and Human Services Commission, where she provided support for a variety of agency regulatory programs.
Captive insurance is a regulated form of self-insurance that has existed since the 1960’s and has been a part of the Vermont insurance industry since 1981, when Vermont passed the Special Insurer Act. Captive insurance companies are formed by companies or groups of companies as a form of alternative insurance to better manage their own risk. Captives are commonly used for corporate lines of insurance such as property, general liability, products liability or professional liability.
Source: The Vermont Department of Economic Development
Was this article valuable?
Here are more articles you may enjoy.