News & events - Page 28 of 30 - Vermont Captive Insurance

This is your home to find news and information related to Vermont’s captive industry. If you have resources you would like featured, please contact brittany.nevins@vermont.gov.

Featured podcasts

Tune into our featured podcasts to hear Vermont Captive’s leading experts offer insights into a wide range of topics, from how Vermont Captive got its start in 1981 to what regulations to be aware of when extracting capital from a captive.

Listen Now

Vermont Captive news

Vermont Captive Insurance professionals rise to the top in “Power 50,” “Ones to Watch” and “Hall of Fame” lists

Captive Review Magazine, a leading London-based publication for the captive insurance industry, has recently released their annual “Power 50,” “Ones to Watch” and “Hall of Fame” selections, which recognize the most influential individuals in the global captive insurance industry. A record six Vermont-based captive insurance professionals were recognized on the prestigious “Power 50” list, more than any other jurisdiction outside of the European Union.

2017 provides a strong year of growth for Vermont’s captive insurance industry

2017 proved to be another highly successful year for Vermont’s captive insurance industry. The Vermont Department of Financial Regulation reports 24 new captive licenses, bringing Vermont’s total to 1,112, with 566 active captive insurance companies. The new captives were made up of 11 pure captives, 5 sponsored captives, 3 Risk Retention Groups (RRGs), 3 special purpose financial insurers, 1 branch captive and 1 industrial insured captive. New and notable captives include Life Time Fitness, Inc., AAA Northeast, Barclays Group U.S., Inc., and Bright Horizons Family Solutions.

Vermont celebrates 1,100th licensed captive insurance company

Gov. Phil Scott announced today that the Department of Financial Regulation (DFR) has licensed Vermont’s 1,100th captive insurance company. AssureCap Indemnity, LLC was licensed as a Sponsored Captive Insurance Company. It was formed by Assurance Agency, Ltd., which was recently named the 41st largest insurance broker in the United States by Business Insurance magazine and is now the largest independent insurance brokerage in Illinois. Assurance creates value by minimizing risk and maximizing health for 6,000 businesses and individuals across the country. Headquartered in Schaumburg, Ill., it is a repeated “Best Place to Work” winner.

Governor Phil signs captive legislation along with industry leaders.

Vermont captive insurance legislative agenda signed into law

Governor Phil Scott signed new legislation passed in the 2017 session strengthening Vermont’s captive legislation in a variety of areas including accounting principles, governance standards, expanded dormancy qualifications and the addition of agency captives.

Ian Davis to become Vermont’s Chief Marketing Official for captive insurance

Michael Schirling, Vermont’s Secretary of the Agency of Commerce & Community Development has announced that Ian Davis, 30, of South Burlington will replace Dan Towle as the next Director of Financial Services. The position is responsible for the marketing and business development for the State of Vermont’s Captive Insurance Industry.

“This industry has continued to be an important contributor to our economy,” said Vermont Governor Phil Scott. “I have no doubt that Ian will continue the long standing tradition of representing Vermont as the ‘Gold Standard’ in this area.”