With the dust starting to settle from the recession that hammered the economy and state budgets so hard in 2008, reverberating well into this year, alternative risk-transfer facility launches are getting “back to normal,” according to Vermont's deputy insurance commissioner, David Provost. (See chart below.)
After licensing a total of 16 captives last year–about half the number launched in 2007–14 have already been approved in 2009 by the captive industry's top U.S. domicile, said Mr. Provost, who oversees alternative risk-transfer market facilities in the state.
“Things are pretty well back to normal,” he said, noting that in addition to 14 newly licensed captives in 2009, “we have four or five applications on our desk, we have a list of a dozen or more companies that have talked to us or visited, and we expect an application sometime in the next few weeks.”
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
