Vermont’s Governor Phil Scott has revealed that the state’s Department of Financial Regulation has welcomed its 1,100 captive with the licensing of AssureCap Indemnity, a sponsored captive insurance company.
The captive was formed by Assurance Agency, an insurance brokerage in Illinois.
Governor Scott commented: “We are proud to celebrate this significant accomplishment. As we focus on growing Vermont’s economy we continue to value the role the captive industry has in those efforts, so we are not resting on our laurels.”
Assurance Agency’s president Daniel Klaras, said: “We know how important it is to be in an environment that has an established track record with proven experience, so when we compared experience, governmental support and the state’s long-standing tradition of quality regulation, we knew Vermont was the place to be.”
