New Vermont captive legislation signed by Governor Phil Scott
PR Web
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, including clarifying the ability for a cell to convert to another type of entity, and simplifying processes around redomestication, mergers, and the filing of organizational documents prior to licensure.
This year
marks 40 years since the passage of the Special Insurer Act of 1981, which created the captive industry in