Vermont’s Rise to the Top

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A lot has changed since the State of Vermont first adopted its captive insurance legislation in 1981. Bell-bottom jeans fell in and out of style. Sally Ride became the first American woman to travel to space. The internet was invented and soon came to consume nearly every facet of our lives.

The times have changed and so too have the insurance exposures. Yet Vermont has remained a captive domicile committed to helping businesses navigate their most pressing insurance needs. When traditional carriers shy away from cyber or natural catastrophe exposures, captives are a tool to make sure businesses have the funds they need to become whole again after a claim. When you have an organization who understands its risks greater than anyone, and at the same time, is committed to funding for its risks, a captive insurance company established in a quality domicile becomes a valuable system for managing risk.  The state is now the largest domicile with the most active captives licensed.

“Vermont has seen a lot over our 42 years. We have been exposed to new ideas and have taken those on when they feel appropriate, and we have experience with more challenging situations,” said Brittany Nevins, captive insurance economic development director, Vermont Department of Economic Development. “A lot of captives see Vermont as experienced and the best option for their unique needs.”

Its success is enviable. Many other states have tried to mimic Vermont’s captive laws because they built such a strong foundation for growth from the beginning. Over 40 years after the first legislation was passed, here’s a look back on its legacy — and its path toward continued growth.

To learn more about State of Vermont, please visit their website.