Vermont signs bill on captive provisions
–31 May 2008
Vermont Governor Jim Douglas has signed a bill making changes to key provisions for the state’s captive insurance industry.
“Through a collection of thoughtfully rendered statutory changes, this legislation ties together numerous diverse benefits to both consumers and Vermont’s financial services industries, particularly our captive insurance sector,” said Governor Douglas at a signing ceremony at Dwight Asset Management, LLC, in Burlington.
Changes such as streamlining the process for merging captive insurance companies and enhancing the laws for special purpose financial captives enacted last year will help maintain Vermont’s status as the world’s premier captive insurance domicile by keeping its laws in step with world-wide industry developments and competitive needs, he said.
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