MONTPELIER - Vermont licensed 21 new captives in the first half of 2004 with six new Risk Retention Groups bringing the total of licensed captives to 695, according to data released by the Vermont Banking, Insurance, Securities and Health Care Administration (BISHCA). The majority of the total are pure captives with one industrial insured and one association captive rounding out the new 2004 licensees.

'The first half of the year was very busy,' said Leonard Crouse, Vermont's Deputy Commissioner of Captive Insurance. 'The brisk activity for RRG's continues to be a trend representing hospital and medical groups, supermarkets, colleges and universities.' Parent companies of the licensed captives of note included Wal-Mart, Whirlpool Corporation, USA Hockey Association, and Best Buy, Inc.

Interest in Vermont as a domicile was very high on several recent recruitment trips, including CICA, RIMS, and the International Risk Management Institute's 'Captives Built to Last' seminar series. 'Vermont's solid reputation for consistent and knowledgeable regulation, world-class professional support services and accessible government officials is at the heart of our continuing success,' said Governor Jim Douglas. 'We will continue to make sure that we keep pace with the changing needs of the industry and will do whatever it takes to retain our leadership position.'

Enhancements to www.vermontcaptive.com have also been implemented in 2004, along with a new free quarterly e-Newsletter entitled 'Captive Comments.' The newsletter features an 'Ask the Regulators' column, information on industry issues, and tips on activities and events in Vermont. 'I'd invite anyone interested in learning more about what's going on in Vermont to subscribe to 'Captive Comments' by visiting us on the web at www.VermontCaptive.com or by visiting us at the Vermont Captive Insurance Association conference and we'll get you signed up,' added Dan Towle, Director of Financial Services.

For more information on Vermont's captive industry, visit http://vermontcaptive.com or call Dan Towle at 802-828-5232 or email dan@thinkvermont.com.