Statement from Commissioner Pieciak: DFR staff continue to work remotely and will do so until further notice. The department is still conducting business, however there may be some temporary delays in DFR services.
Timely receipt of filings required by Vermont statues and regulations is essential for effective oversight of Vermont’s captive insurers. The Captive statutes require certain documents to be filed “on or before” a given date. Here is some guidance for this year’s filing due dates:
For items required to be filed with DFR on or before Sunday March 1: anything electronically filed by 11:59 pm Monday, March 2 will be considered timely.
(NEW)Business Plan Change Form for Addition of Protected Cells - including general instructions and guidance
Actuary Application - to become approved for Vermont Captives
CPA Application - to become approved for Vermont Captives
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.
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.
Department of Financial Regulation
Consumer Services
89 Main Street, Montpelier, VT 05620 - 3101
802-828-3301
833-DFR-HOTLINE (toll free)
833-337-4685 (toll free)
Public Information
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