Vermont announced that the state has licensed its 800th captive insurer for that domicile.
The newest arrival is a medical malpractice insurer. Vermont Deputy Insurance Commissioner Len Crouse said medical captives were a major trend a few years back, but the state is being used as a captive domicile now for a variety of coverages, including property, real estate and energy.
In addition, Mr. Crouse noted during an interview yesterday that new legislation allowing securitization in a captive–called Triple-X captives, used to finance life insurance reserves–was expected to win final passage in the legislature and get the signature of Gov. Jim Douglas.
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