Vermont is proposing changes to its captive-insurance law as part of its annual enhancements to its captive statute, according to the Dept. of Banking, Insurance, Securities and Health Care Administration (BISHCA).
The proposed bill, H438, expands Vermont's captive laws to allow cells within a sponsored-cell captive to be formed as incorporated protected cells. Vermont currently allows protected cells created by contract alone.
Dan Towle, Vermont's director of Financial Services, tells NU that the bill is sponsored by the committee of Commerce and Economic Development.
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