Captive Insurance

The Captive Insurance Division of the Vermont Department of Financial Regulation focuses on maintaining a regulatory system that attracts quality business to Vermont, promotes the state reputation in the industry, and safeguards the solvency of captive insurers while recognizing the special purpose for which they were created. The division pursues its mission by:

• Attracting and licensing quality programs whose primary purpose is risk management or risk financing;
• Performing ongoing financial surveillance;                                                                    
• Performing periodic financial examinations;
• Implementing and enforcing laws and regulations;
• Developing effective and reasonable policies and procedures; and
• Advancing the growth of Vermont’s captive industry.

• Alert: Revised Vermont Captive Insurance Specific Guidance Regarding COVID-19
​​​• Alert: Cybersecurity (Apache Log4j) Vulnerability Guidance
• Vermont COVID-19 Information (Department of Health)

Deputy Commissioner Sandy Bigglestone     

Deputy Commissioner of the Captive Insurance Division of the Vermont Department of Financial Regulation, Sandy Bigglestone is responsible for the administration and regulation of captive insurance companies and risk retention groups. Deputy Commissioner Bigglestone transitioned to her current leadership position after serving with the Captive Division since 1997. Ms. Bigglestone has more than 25 years of experience regulating captive insurance. She was appointed the Deputy Commissioner effective September 1, 2022, after serving as a principal staff member to her predecessor for 14 years. Ms. Bigglestone is a Certified Public Accountant, Certified Financial Examiner, a Certified Public Manager with the State of Vermont, and earned an Associate Professional in Insurance Regulation designation from the National Association of Insurance Commissioners. In 2018, Deputy Commissioner Bigglestone received the Women to Watch Award by Business Insurance for her leadership, expertise, and accomplishments in the captive insurance industry. The 2022 Captive Review Power 50, which recognizes the most influential professionals in the global captive insurance industry, listed her at #9.

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