For admission as a Vermont captive insurance company, you must submit an application, along with supporting forms and documentation. Take note of the additional requirements and application fees.
Special Purpose Financial Insurance Companies (SPFIs) may be subject to different instructions and forms. If you are forming a Special Purpose Financial Insurance Company, please contact us directly to obtain additional information.
If you are a Foreign Risk Retention Group or a Foreign Purchasing Group registered in Vermont, you are required to file information with the State of Vermont per the below list of required filings and due dates.
The department encourages all companies interested in forming a captive to contact one of the approved managers. The prospective captive owner can rely on the manager's expertise in this area. If at any point you wish to contact the department directly, please feel free to do so.
Captive insurance refers to a subsidiary corporation established to provide insurance to the parent company and its affiliates. A captive insurance company represents an option for many corporations and groups that want to take financial control and manage risks by underwriting their own insurance rather than paying premiums to third-party insurers. The advantages of going captive are:
If you are an existing Vermont licensed captive please see Resources - Lists for our approved service providers, Vermont captive list, checklists and filing requirements, as well as other resources.