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.
(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: