OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best believes an updated captive insurance law in Vermont, which allows for the inclusion of agency captives, makes the nation's largest captive domicile even more attractive for potential formations.
A new Best’s Briefing, “New Vermont Law Aims to Attract and Retain Captives,” states that the signing of House Bill 85 in Vermont into law, and its inclusion of agency captives, highlights the push by the insurance industry in recent years to get closer to the insureds. Many agents have deep-rooted relationships with profitable books of business. The agency captive will allow them to continue to control that relationship through working with a primary carrier, while sharing in the risk by participating in the fortunes of the business written.
To access the full copy of this briefing, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=262363.
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