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Committee advances captive-insurance housekeeping changes in H.137
Summary
Department of Financial Regulation staff briefed the Senate Finance Committee on sections 5–14 of H.137, a set of housekeeping amendments to Vermont’s captive-insurance statutes covering licensing references, manager-managed LLC language, mutual-insurer governance and reinsurance limits.
The Senate Finance Committee heard staff from the Department of Financial Regulation (DFR) explain amendments in H.137 that would update and clarify Vermont’s captive‑insurance statute. The committee was told the changes are primarily housekeeping: they align statutory cross‑references, modernize terminology for manager‑managed limited liability companies and clarify governance rules for mutual captives and reinsurance authority.
Sandy Bigglestone, acting commissioner at the Department of Financial Regulation and deputy commissioner for the captive-insurance division,…
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