closed blocks of non-admitted commercial insurance policies News

Vermont Gov. Peter Shumlin on Wednesday signed the Vermont Legacy Insurance Management Act (LIMA). The new law would allow the formation of specialized, Vermont-based companies to acquire and manage closed blocks of non-admitted commercial insurance policies and reinsurance agreements. Gov. …

A new law in Vermont would soon authorize the state to license and regulate specialized Vermont-based companies whose only purpose would be to assume and manage closed blocks of non-admitted commercial insurance policies and reinsurance agreements. The legislation, Vermont’s Legacy …