Vermont H0137 amends insurance regulations, including captive insurance company rules, reporting requirements, and governance standards for risk.

Vermont H0137 amends various sections of Vermont Statutes to update the regulation of insurance products and services. It modifies rules for captive insurance companies, including requirements for alien captive insurance companies, dormant captive insurance companies, and agency captive insurance companies. The bill also updates reporting requirements for captive insurance companies and governance standards for risk retention groups. Additionally, it establishes rules for mergers of captive insurance companies and sets standards for reinsurers. The act takes effect upon passage.

Vermont H0137 amends insurance regulations, including captive insurance company rules, reporting requirements, and governance standards for risk.

Vermont H0137 amends various sections of Vermont Statutes to update the regulation of insurance products and services. It modifies rules for captive insurance companies, including requirements for alien captive insurance companies, dormant captive insurance companies, and agency captive insurance companies. The bill also updates reporting requirements for captive insurance companies and governance standards for risk retention groups. Additionally, it establishes rules for mergers of captive insurance companies and sets standards for reinsurers. The act takes effect upon passage.