Captive Insurance

Vermont statutes online

NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.

For actions of the 2021-2022 legislative session See Bill H.515 pages 24-30.

Captive Insurance NAIC Annual Statement FAQs

1. What do I do if our Company had an audit adjustment last year?

Option 1: The NAIC Annual Statement Instructions state that corrections of errors in previously filed information should be reported as an adjustment to surplus in the current year with an appropriate identifying title as a write-in item for the Aggregate Write-ins for Gains or Losses to Surplus.

Fees and PremiumTax Chart- updated as changes occur

CAPTIVE INSURANCE

Approved Service Providers

Approved Service Providers consist of approved independent CPAs, approved actuaries and approved captive management companies. The attached pdfs provide current listings in all of these categories. 

Where to Send

Notice & Registration Filings and General Information

Submit electronically to: DFR.CaptiveMail@vermont.gov

or Mail to:

Vermont Department of Financial Regulation - Captive Insurance Division
Val Stark, Captive Administrative Assistant
89 Main Street
Montpelier, VT  05620-3101
Tel:  802-828-3304
 

Foreign Insurance

For Foreign (non-domestic) Insurance Companies please file Form Insurance Premium Tax (IPT) and see non-domestic tax rates on bottom of Fees and PremiumTax Chart.

Laws, Regulations, and Guidance

32 V.S.A. § 8551Tax on premiums collected

Revisions to the NAIC Uniform Risk Retention Group Registration Form were adopted by the C Committee on June 10, 2020. States are encouraged to use this form to receive RRG registrations.

NAIC Uniform Foreign Risk Retention Group Application - NEW fillable form to register as a foreign risk retention group

Risk Retention Groups

If you are a Risk Retention Group domiciled in a state other than Vermont and would like to register to do business in Vermont, please submit the following material:

Please note that the lists are updated as indicated below.  For questions or specific requests please contact DFR Captive Insurance. 

Actuarial Review Firms for Captive Exams and Applications - FY 7/1/22-6/30/2024

Approved Actuaries - updated monthly