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Captive Insurance Update | Spring Edition | 2023 | Downs Rachlin Martin PLLC

Developments in Vermont 2023 - Captive Legislation - On May 8, 2023, Governor Phil Scott signed Vermont’s annual captive “housekeeping” bill into law. The. ....

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Captive Insurance Update | Fall Edition | 2022 | Downs Rachlin Martin PLLC

Developments In Vermont - Changes at the Top After more than five years of continuity, Vermont’s leadership team has seen significant turnover during. ....

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Captive Insurance Update | Fall Edition 2021 | Downs Rachlin Martin PLLC

Captive Insurance Update | Fall Edition 2021 | Downs Rachlin Martin PLLC
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Captive Insurance Update | Spring Edition | 2021 - A summary of state and federal developments in the captive insurance industry | Downs Rachlin Martin PLLC

Continued Impact of COVID-19
The measures taken by the Vermont Department of Financial Regulation (the “DFR”) in 2020 in response to the COVID-19 pandemic have been extended through 2021. These include a recognition that in-person board meetings in Vermont may not be feasible until travel restrictions have been relaxed. Captives are invited to request a waiver of the physical presence requirement for their 2021 annual meetings.
2021 Captive Legislation
Despite its focus on the State’s COVID-19 response, the Vermont legislature is on track to pass its annual captive “housekeeping” bill, which was jointly proposed by the DFR and the Vermont Captive Insurance Association. The current version of the bill includes the following notable provisions: ....

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