The Vermont Captive Insurance Association (VCIA) will hold its biannual roadshow educational event on 27 March at the Hilton Burlington Hotel, Vermont. The event, tailored to prospective captive insurance companies, has been hosted in more than 20 cities, including Mexico City. Included at the roadshow is an opening session on the basics of captive insurance and the benefits of domiciling in Vermont, and the latter features three captive owners sharing their formation stories. Speakers from Vermont include Kevin Mead, president of the VCIA; Sandy Bigglestone, deputy commissioner of captive insurance at the Vermont Department of Financial Regulation; and Christine Brown, director of captive insurance at the Vermont Department of Financial Regulation. Vermont governor Phil Scott says: “This event is a great opportunity for Vermont businesses dealing with an insurance challenge to consider captive insurance as a possible long-term solution. “Vermont is the centre of excellence for the industry, and it is important for Vermont employers to know that captive insurance could save them money, give them greater control, and ensure stable access to coverage during volatile times.” Captive insurance has been a part of the Vermont insurance industry since 1981, when Vermont passed the Special Insurer Act. Vermont captive insurance economic development director Brittany Nevins states: “We have 659 active captive insurance companies licensed in Vermont and few of those companies are headquartered in Vermont. “Vermont companies have the benefit of having world renowned expertise right here in our state, and it is important that we educate here whenever possible, as it could have great benefits to local companies and organisations that could have a ripple effect on our economy.”
