In business since 1981, with a total of 831 licensed captives and premium volume of $15.3 billion in 2007, Vermont remains by far the largest U.S. captive, and indeed, one of the largest worldwide.

So far this year, eight captives have been licensed, noted David F. Provost, deputy commissioner of Captive Insurance Division for the Vermont Department of Banking, Insurance, Securities & Health Care Administration. He succeeded Leonard Crouse on June 1, who served as Vermont’s captive regulator for 18 years. (See related story on this page.)

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