Burlington, Vt.–The Vermont captive market remains strongdespite the soft market, Vermont Gov. James Douglas observed duringopening remarks at the Vermont Captive Insurance Association's(VCIA) 23rd annual conference here yesterday. Gov. Douglas alsopledged the state's ongoing support, even with a statewide “belttightening” in effect.
“The market is hurting, but not here,” he said, noting that 2007was a good year, with 32 new captives licensed and some neededlegislative changes for captives. In a press conference, hecomplimented the captive department's “seamless” integration of newregulator David Provist, deputy commissioner of captive insurance,who took over on June 1 for Leonard Crouse, now a partner at TownerManagement Group's Vermont office.
Molly Lambert, VCIA president, announced the association'shighest annual awards to Mr. Crouse and Derick White, formerly withthe department and now president of Strategic Risk Solutions'Vermont operation.
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