Vermont insurance industry News

Vermont’s Legacy Insurance Management Act Signed Into Law

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. …

Vermont’s New Law Seeks to Attract Runoff Businesses

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 …