The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
002
:
SPONSORED CAPTIVE INSURANCE COMPANIES
(Cite as: 8 V.S.A. § 6033)
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§ 6033. Supplemental application materials
In addition to the information required by subdivisions 6002(c)(1) and (2) of this
title, and subject to the confidentiality provisions of subdivision 6002(c)(3) of this title, each applicant-sponsored captive insurance company shall file with the Commissioner
the following:
(1) materials demonstrating how the applicant will account for the loss and expense experience
of each protected cell at a level of detail found to be sufficient by the Commissioner
and how it will report such experience to the Commissioner;
(2) a statement acknowledging that all financial records of the sponsored captive insurance
company, including records pertaining to any protected cells, shall be made available
for inspection or examination by the Commissioner or the Commissioner’s designated
agent;
(3) all contracts or sample contracts between the sponsored captive insurance company
and any participants; and
(4) evidence that expenses shall be allocated to each protected cell in a fair and equitable
manner. (Added 2003, No. 55, § 9; amended 2023, No. 110 (Adj. Sess.), § 12, eff. July 1, 2024.)