Network with Captive Review on LinkedIn

Follow Captive Review on Twitter

RSS

18th of May 2012

Vermont proposes new legislation

Vicky Beckett 25/01/2012

Vermont has licensed three captives to date this January, and is planning several technical additions to its captive legislation
 
This year the captive insurance department is looking to allow captives to use trusts to meet capital requirements.
 
Daniel Towle, director of financial services at the Vermont department of economic development, said: “We propose to also allow mutual corporations and nonprofit corporations with one or more members to also incorporate the protected cell. 
 
“This is consistent with existing law for formation of sponsored insurance companies in general,” he added.
 
The state licensed a net total of 41 captives across 2011, six of these were risk retention groups and another six were redomiciliations.
 
Towle believes this may be the highest number of redomciliations to Vermont yet, however, he dismissed the possibility that this was due to the Dodd Frank Act.
 
Under the act captives that are not domiciled in their parent-company’s headquartered state may be forced to pay procurement tax.

Tags: Capital requirements, Captive, Dan towle, Dodd Frank, Insurance, Procurement tax, Risk retention group, Trust, Vermont, Vermont Captive Insurance Associ

Post a comment

Post a comment

Diana 22/02/2012 8:09am

Hi Thanks for all the email with the alitcre updates. I feel very blessed to have found this site with all the encouragement on it. Keep up the good work and thanks for the linkback. It's all about Jussus and building up the church and furthering the kingdom and you are sure doing your part in that mission.P.s. were you aware that some of the photos were blocking the words. The I love your blog photo and the one at the top with the daisies. No criticism just trying to be a good neighbor.P.s.s On the lighter side Your husband reminds me of Les Stroud ( in this photo ) from the survivorman show. I love that show

» Report this comment

Captive Insurance Database (CID)is the world's most comprehensive online source of captive market intelligence.

CID gives users instant access to the names of parent companies who currently own a captive. It also provides the names and contact details of captives’ risk managers, as well as the parent or ultimate parent companies’ address, country, CFO, CEO, and exchange.

CID also gives you the captive name, manager, licence and incorporation date and the type of captive the parent company is running.

CID will help you to:

•    Win more business proactively – Search from 5,700 captives and over 3,700 captive owners who you can offer your services to.


•    Increase profit and efficiency – Target specific captive owners and sponsors quicker, saving you time.


•    Build relationships
Access detailed contact information for each decision-maker. 

An annual CID licence costs just £1,195 + VAT.

Already a CID user?Login here.

Order a 2 year subscription and SAVE 25%
The licence includes full online access to CID and a free annual hardcopy of CID (worth £610).To find out more contact Nick Byrne on +44 (0) 20 7029 4027 or
cid@captivereview.com.

more//

Company and Ratings Search

Search A.M. Best's extensive database of life/health, property/casualty and insurance companies worldwide.

more//

Cell Company Guide

WELCOME TO THE Captive Review Cell Company Handbook 2009 – the second edition of our global directory of cell company jurisdictions. Since we last published this directory, the general attitude toward cell companies seems to have shifted up a gear. Whereas single-parent companies have long ruled the captive roost, a slight uptick in the formation of pure captives at the beginning of this year can’t hide the fact that growth in this market is still sluggish.

more//

Pellentesque feugiat arcu vitae lacus elementum in ullamcorper diam pulvinar. In odio massa, facilisis sed dignissim vel, vehicula ac diam. Curabitur tempor, quam nec aliquam tempus, dui lorem venenatis arcu

Mauris accumsan orci ut turpis placerat condimentum. Ut sit amet lobortis purus. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos.

CID