Vermont continues to grow its captive insurance industry. The Vermont Department of Economic Development (DED) has reported that 2024 was among Vermont’s top 10 highest years of growth since it enacted its first-in-the-nation captive legislation in 1981. Vermont licensed a …
Vermont Governor Phil Scott has signed into law legislation updating certain sections of the state’s captive insurance statute including sections governing minimum capital requirements for agency captives and captives’ use of parametric contracts. The new law (H. 659) adds explicit …
The state of Vermont reports that it licensed 41 new captive insurance companies in 2022, meaning it is now home to 639 licensed captives, consisting of 608 active and 31 dormant captives. The new captives, a form of a self-insurance, …
Governor Phil Scott recently signed legislation (H.515) into law modernizing Vermont’s captive insurance statutes, including giving captive insurance companies authority to enter into parametric risk transfer contracts. Other law changes are aimed at simplifying reporting requirements, improving solvency procedures for …
Forty-five new captive insurance companies were licensed this past year in Vermont, making 2021 Vermont’s fourth highest year of growth in its 40-year history. Vermont is now home to 620 licensed captives, consisting of 589 active and 31 dormant captives.. …
Vermont Gov. Peter Shumlin has signed new legislation, H-538, that allows sponsored or industrial insured captives that are inactive to enter a dormant status. This status would allow such types of captives to be exempted from premium taxes but stay …
Vermont licensed 33 new captive insurance companies in 2015, according to data released by the Vermont Department of Financial Regulation. 2015’s new licensees bring Vermont’s overall total licenses to 1,062 with 588 active captive insurers. Vermont officials said an active …
Willis Global Captive Practice, a unit of Willis Group Holdings plc, today announced it has set up a Willis-owned and managed protected cell company (“PCC”) insurance facility in Vermont. Willis announced that the new facility, Encore Insurance PCC Ltd., will …
The Vermont Department of Financial Regulation announced on July 31 that the state regulators licensed 14 new captives during the first seven months of 2015, already nearing the full-year 2014 total of 16. The newly licensed captives include seven pure …
Vermont officials announced that Gov. Peter Shumlin will sign new legislation passed in April that would bring several changes to the state’s captive insurance rules — including changes to the investment guideline to allow “marketable securities” along with cash, trusts …
