Blog Posts from Captive Insurance
News from the Vermont State House: Captive Legislation Moves Forward
Apr 25, 2019
Blessedly far from any political posturing, legislation updating Vermont’s captive insurance laws was readily passed by both houses and just signed into law on April 18. The bill was the latest in what has become an annual “housekeeping” exercise in the Legislature to add new initiatives or simply make some technical amendments that clarify or implement the law.
Microsoft: What it means for captives
Apr 25, 2019
By now, most in the captive insurance industry know about the Cease and Desist Order issued last year by the elected Washington Insurance Commissioner (the “Commissioner”) to Cypress, Microsoft’s Arizona-domiciled captive. The Commissioner ordered Cypress to stop transacting insurance and to pay Washington tax on its premiums, as well as interest and penalties. The dispute settled for $876,820, and Cypress issues its policies through a surplus lines broker.
Vermont's First Affiliated Reinsurance Company
Jan 18, 2019
In March 2019, Vermont State Officials announced the formation of Vermont’s First Affiliated Reinsurance Company (ARC) by MAPFRE RE, a large global reinsurance company based in Madrid, Spain. Primmer Piper Eggleston & Cramer (PPE&C) attorneys Ralphine O’Rourke and Jesse Crary are the advising counsel to MAPFRE RE.
Jesse Crary to Present at 39th Annual National Educational Conference & Expo
Nov 05, 2018
On Tuesday, March 19th, 2019 attorney Jesse Crary of our Captive Insurance practice will present at the Self-Insurance Institute of America, Inc.'s (SIIA) 39th Annual National Educational Conference and Expo.
August 2018 Captive Insurance Update
Aug 20, 2018
The August 2018 captive insurance update is here! Scroll this page or download for a full update on what's new in captive insurance this summer.
Vermont’s New Captive: Affiliated Reinsurance Companies
Jun 20, 2018
With an eye toward creating a domestic alternative to offshore reinsurance affiliates, the Vermont Legislature recently passed legislation establishing a new type of captive, an affiliated reinsurance company (“ARC”), effective July 1, 2018.
Jesse Crary to present at VCIA
Aug 01, 2017
Jesse Crary to present at Vermont Insurance Association Conference on Captive Insurance in Vermont.
July 2017 Captive Insurance Update
Jul 28, 2017
The July 2017 captive insurance update is here! Read or download the full update discover what's new in captive insurance this summer.
Proposed Legislation Could Impact Captive Insurers
Oct 18, 2016
Last month, new legislation was introduced in the Senate and House of Representatives “to amend the Internal Revenue Code of 1986 to prevent the avoidance of tax by insurance companies through reinsurance…
Happy Anniversary Vermont!
Jul 29, 2016
Beginning Tuesday, August 9, there will be a multiday celebration in honor of the 35th anniversary of Vermont’s captive insurance legislation. Since Vermont became a captive in 1981, there have been significant…