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Senate amends and orders H.659 for third reading after committee report on captive insurance and related financial measures
Summary
H.659, described as an almost 200-page captive insurance and financial-services bill, was amended as offered by the Committee on Finance and ordered for third reading; the bill covers sponsored captives, parametric contracts, confidentiality alignment, pet insurance rules, and the Money Transmission Modernization Act.
The Vermont Senate amended H.659 as offered by the Committee on Finance and ordered the bill for third reading after a floor explanation by the sponsor.
The sponsor described H.659 as a comprehensive package addressing captive insurance (sections 1–18), parametric contracts, revisions to reserve requirements, confidentiality standardization across the Department of Financial Regulation…
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