Article ID: 124b4dba40f07042b0a142d6113f95751e80457082ef1e9dc78543a6b1274b45
Source ID: secondary:businessinsurance.com
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Extraction Method: bs4_heuristic
URL: https://www.businessinsurance.com/vermont-governor-signs-captive-bill/
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Vermont governor signs captive bill - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Vermont governor signs captive bill by Claire Wilkinson Alternative Risk Transfer/Captives Mar 27, 2026 Vermont Gov. Phil Scott on Tuesday signed H.B. 649 into law, restricting certain investments by risk retention groups and revising reporting requirements for captive insurers operating in the state. The law prohibits risk retention groups from making loans to or investing in their parent companies or affiliates. Loans and investments in place before Jan. 1, 2026, can stand. The legislation, which takes effect July 1, also updates financial reporting requirements, specifying that captive insurers may use generally accepted accounting principles, statutory accounting principles or international financial reporting standards, subject to approval by the insurance commissioner. Any change in accounting method requires prior approval. Risk retention groups are also required to file annual and quarterly financial statements with the National Association of Insurance Commissioners, including electronic submissions. In addition, each protected cell within a sponsored captive must file a sworn certification within 30 days of commencing business confirming it met funding and collateral requirements, in accordance with its plan of operation. The Vermont General Assembly passed the bill March 12. Related News Ping An’s profit jumps 10% to $19.4 billion March 27, 2026 China COSCO resumes Middle East routes March 27, 2026 Allianz Jio Re launches in India, names CEO March 27, 2026 Helium shortage disrupts global tech supply chains March 27, 2026 China Taiping’s profit surges March 27, 2026 Gulf event organizers hit by cancellations, limited insurance March 27, 2026 TRM acquires Rokstone Mauritius March 27, 2026 The BI Top 10 for the week of March 23, 2026 March 27, 2026 PartnerRe cuts cessions to Lorenz Re for third straight year March 27, 2026 Facebook-f X-twitter Linkedin-in Business Insurance is a singular, authoritative news and information source for executives focused upon risk management, risk transfer and risk financing. Never miss important news: Become a Business Insurance Online subscriber today Subscribe Now Information About Us Contact Advertise Privacy Policy Terms & Conditions Copyright 2026. BUSINESS INSURANCE HOLDINGS Member, Beacon International Group, Ltd.
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