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Vermont Updates Its Captive Insurance Law Again

Vermont Governor Phil Scott has signed into law legislation updating certain sections of the state's captive insurance statute including sections

Vermont House Bill 659 clarifies the law in multiple instances to improve the process and consistency of regulatory practices, address unnecessary redundancies, and better align requirements with the captive marketplace.

Vermont House Bill 659 clarifies the law in multiple instances to improve the process and consistency of regulatory practices, address unnecessary redundancies, and better align requirements with the captive marketplace.

The bill provides an update to the state’s cell legislation, enabling a captive insurance company to be converted into an unincorporated cell, with all of its assets, rights, benefits, obligations and liabilities remaining unaffected by the process.

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