X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
News from RMS, Chubb, Munich Re, U.S. captive states and more. (Photo: Shutterstock/Rawpixel)

Vermont governor Peter Shumlin signed into law changes that will lower surplus requirements for cell captives and make technical changes in other areas of the state’s captive statutes. It will cut in half the minimum capital requirement for cell captives from $500,000 to $250,000. In addition, Vermont’s captive law will now echo that for its traditional insurers and allow marketable securities to meet capitalization levels. Previously, the state would accept cash and cash equivalents, trusts and letters of credit.

PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now

Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.