Vermont has postponed its captive insurance industry trade mission to Mexico that was due to take place on 24 March as a result of the COVID-19.
The trade mission was organised in collaboration with the US Commercial Service, the trade and promotion arm of the US Department of Commerce’s International Trade Administration.
Ian Davis, director of financial services at Vermont's Department of Economic Development said: “We would like to thank the US commercial service for helping organise and coordinate the event, as well as the many corporate leaders and industry executives who have registered to attend the educational forum and related engagements.”
Davis stated that Vermont is “deeply committed to growing the captive insurance concept in Latin America and will work diligently to reschedule the event in Mexico City once this public health emergency has been removed”.
He added: “Thank you for your patience. We will be keeping you apprised of the new date of our educational programme and look forward to providing you with information about the strategic advantages and benefits of captive insurance.”
Speaking to Captive Insurance Times in late 2019, Davis explained that the overall objective of the trade mission was to help educate the Latin American market on the benefits of captive insurance and the advantages of being in a reputable, onshore jurisdiction such as Vermont.