Captive Insurance Companies In Vermont
Located in burlington vermont vcia provides education and legislative advocacy for the captive industry.
Captive insurance companies in vermont. For nearly 40 years we have been at the forefront of the captive insurance industry and we work diligently to set and then raise the bar. Between our experience and dedication the state of vermont is ready to work with a company like yours. Provost cfe is deputy commissioner of the captive insurance division of the vermont department of financial regulation. Experience vermont s gold standard.
He has been with the division since 2001 and was appointed deputy effective june 1 2008. Learn why we are the number one us domicile with over 1 100 licensed captives to date. Captive insurance alternative risk transfer and related insurance domicile profiles. Letter of credit 6005 dividends 6006 formation of captive insurance companies in this state.
The vermont statutes online. Established in 1985 the association has grown to provide lobbying support on both the state and federal levels for its nearly 500 member companies. He is responsible for the administration and regulation of captive insurance companies and risk retention groups. Vermont is the leading onshore captive insurance domicile with over 1 000 licensed captive insurance companies and with more than 30 years of experience working with the captive insurance industry.
Over 1 100 companies have already realized the advantages of captive insurance operations licensed in vermont. Banking and insurance chapter 141. The vermont regulatory advantage. Captive insurance refers to a subsidiary corporation established to provide insurance to the parent company and its affiliates.
General provisions 6001 definitions 6002 licensing. Vermont s captive insurance industry serves 48 of the fortune 100 corporations and 18 of the dow 30. A captive insurance company represents an option for many organizations from fortune 500 companies to nonprofits that want to take financial control and manage risks by underwriting their own insurance rather than paying premiums to third party. In fact for several years now vermont has ranked as the number one captive domicile in the united states and the number three ranked domicile internationally.
Vermont is first worldwide in gross written premium and assets under management and ranks third in the number of active captive insurance companies. Vermont is also home to the world s largest captive insurance trade association the vermont captive insurance association vcia. We re more than pastoral landscapes and maple syrup. Vermont is also a five time winner of captive review s top us domicile honor.
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