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Vermont Captive news

New captive legislation signed by Governor Phil Scott

Montpelier, Vt. – Governor Phil Scott signed new legislation into law strengthening Vermont’s captive regulation in a variety of areas. This year’s bill, S.88, combined changes to Vermont’s insurance and captive insurance statutes in a single bill to help minimize the number of items before the legislature. The bill made several updates to Vermont’s captive law,…

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Vermont honors the legacy of captive industry leader

Montpelier, Vt. – The State of Vermont honors the legacy of Leonard “Len” Crouse after his passing on May 6, 2021. Len was appointed the first Deputy Commissioner of the then newly created Captive Insurance division in 2003 and prior to that served as the Director of Captive Insurance since 1990 for the Vermont Department of…

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Vermont recognizes pioneer of captive industry

Montpelier, Vt. – The Agency of Commerce and Community Development (ACCD) and the Department of Financial Regulation (DFR) today recognized George Chaffee after his passing on February 6, 2021. George became Deputy Commissioner of the then Banking and Insurance Department in 1977 and was appointed by Governor Richard Snelling as Commissioner of the department on March…

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Vermont celebrates 1,200th licensed captive insurance company

Montpelier, Vt. – Montpelier, VT – Governor Phil Scott announced today that the Department of Financial Regulation (DFR) has licensed Vermont’s 1,200th captive insurance company. Sustainable Assurance Company was granted a license as a pure captive insurance company on January first. It was formed by the Lancaster County Solid Waste Management Authority (LCSWMA). “As Vermont…

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Vermont’s captive insurance industry releases 2020 licensing figures

The Vermont Department of Economic Development announced today that the State of Vermont licensed 38 new captive insurance companies in 2020, Vermont is now home to 589 licensed captives, consisting of 564 active and 25 dormant captive insurance companies. “It is great news that Vermont has remained a consistent leader in the captive industry during…

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