Vermont is the largest onshore captive domicile, second in the world in terms of assets and the third-largest in number of licenses. Well over 1,000 companies have been licensed in Vermont since 1981.
Vermont has been a leader in the captive insurance industry for over thirty-five years. In 1981, the Vermont Legislature passed the Special Insurer Act which was designed to provide a unique and attractive statutory framework for captive formation. These landmark regulations have become the model of captive regulation. Vermont's captive insurance statute has been modified continually to meet the needs of this dynamic, fast-paced industry. The Vermont legislature listens and is responsive, and Vermont has a team of regulatory professionals dedicated to serving captives. Throughout its history in Vermont, the captive insurance industry has received universal and enthusiastic support from the governors and state legislators.
The Vermont Captive Insurance Association plays an important role in the success of the industry by providing legislative advocacy at the federal and state levels. With full-time representation in Washington, DC and Montpelier, Vermont, the interests of the industry are heard and represented. VCIA also provides high-quality professional captive education and networking opportunities.