domicile
Vermont licenses captive insurers through its Department of Financial Regulation under Chapter 141 of Title 8 of the Vermont Statutes. Start by matching your proposed structure to a Vermont class, then use the guide and provider listing below.
US state domicile; captives are licensed by the Vermont Department of Financial Regulation under 8 V.S.A. Chapter 141.
15 active providers
How are these providers ranked?Vermont regulates captive insurers through the Captive Insurance Division of the Department of Financial Regulation (DFR). The governing law is Chapter 141 of Title 8 of the Vermont Statutes, supported by DFR regulations and bulletins. The sections below set out what to settle with your advisers before a Vermont application.
Chapter 141 defines the types of captive Vermont licenses and sets rules for each, covering capital, reporting, investments and reinsurance. Market labels do not always match those types. A "single-parent captive" is usually a pure captive in Vermont's terms. A "group captive" may be an association captive, an industrial insured captive or a risk retention group, depending on who owns it and whose risks it insures. Cell arrangements sit under the sponsored captive subchapter, which provides for protected cells and incorporated protected cells. Identify the statutory type first, because it decides which rules apply.
DFR's published formation steps begin with engaging a captive manager approved to operate in Vermont. The application is built around a business plan supported by feasibility and actuarial work, and the Commissioner must approve formation before a license is issued. Under § 6006, at least one incorporator and at least one director (or manager, for an LLC) must be a Vermont resident.
Licensed captives file annual reports with DFR under § 6007. Vermont regulation requires an annual audit by an independent certified public accountant and an actuarial opinion on loss reserves from a qualified actuary (Regulation C-81-2). DFR publishes lists of service providers approved to work with Vermont captives.
Buyers usually point to the length of Vermont's captive regime, a dedicated regulatory division, statutory options that cover single-owner, group and cell structures, and published lists of approved service providers. Whether those factors outweigh another domicile's rules depends on the program; that is a question for your advisers, not a ranking.
Vermont enacted its captive insurance law in 1981, making it one of the longest-established captive domiciles in the United States. DFR publishes current licensing figures.
Vermont taxes captive premiums under § 6014. The section sets the rates and an annual minimum and maximum aggregate tax, currently $7,500 and $200,000 under § 6014(c)(1); for a branch captive, § 6047 applies the tax only to its branch business. Other recurring costs typically include management, audit, actuarial, legal and regulatory fees. Ask your manager for a cost model based on the current statute and your expected premium.
DFR can examine a captive's affairs under § 6008. Moving a captive into or out of Vermont is governed by the redomestication provisions in § 6006b and requires regulatory approval.
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Each card shows how that provider relates to Vermont — headquartered here, an office here, or serving the domicile.
Advantage Insurance Management provides independent captive feasibility, formation, management, accounting, regulatory, compliance, governance and restructuring services to U.S. and international captive insurance programs.
Aon Insurance Managers (USA) Inc. is a U.S. captive management entity operating within Aon’s Captive & Insurance Management practice. Its captive services include management, captive and risk-finance strategy support, actuarial services, underwriting and claims support, accounting and treasury support, and risk management, compliance and governance support.
Artex Risk Solutions is an alternative risk and insurance management business operating under the Arthur J. Gallagher & Co. group. It provides captive feasibility, formation and ongoing management; single-parent, group and cell captive solutions; actuarial and risk advisory services; reinsurance and claims-management support; capital-markets administration; and legacy and run-off solutions.
Crowe LLP is a U.S. public accounting and consulting firm providing audit, tax, advisory and consulting services. Its insurance practice serves commercial insurers, captive insurance companies, risk retention groups and other insurance-related organizations.
Independent captive manager providing captive feasibility, implementation, ongoing management, accounting, regulatory coordination, claims support, and risk management services for U.S.-domiciled captive insurance companies.
Liberty Mutual Insurance is a global property and casualty insurance group providing personal, commercial and specialty insurance, reinsurance, surety, captive management, captive fronting, alternative-risk solutions and third-party claims administration.
Independent, employee-owned property and casualty actuarial and management consulting firm providing actuarial, risk financing, enterprise risk management, predictive analytics, reinsurance, regulatory, and alternative market consulting services.
Risk Services, LLC is a full-service captive insurance manager providing formation, licensing, accounting, financial reporting, regulatory compliance, underwriting, policyholder administration, reinsurance intermediary and fronting support services.
Strategic Risk Solutions (Vermont), Ltd. provides captive insurance management, consulting, financial reporting, regulatory compliance, governance, underwriting and strategic advisory services to captive insurers, group programs, risk retention groups and other insurance entities.
Marsh Captive Solutions provides captive consulting, actuarial, formation, management, technology, benchmarking, cell-facility and optimization services across the captive lifecycle.
Alvarez & Marsal (A&M) is a global professional services firm founded in 1983, known for restructuring, turnaround management, and performance improvement work for corporations, investors, and government entities worldwide. Within its Tax and Regulatory & Risk Advisory practices, A&M provides captive insurance structuring, alternative risk financing, tax risk insurance, and insurance regulatory advisory services to multinational organizations and financial institutions.
RH CPAs, PLLC is a public accounting, tax and advisory firm providing audit, tax, accounting, regulatory and consulting services to captive insurers, risk retention groups, mutual insurers, life insurers, property and casualty insurers and reinsurers.