In celebration of its 20th anniversary as a captive domicile, Vermont marked the occasion with passage of two important enhancements to its captive statutes. Both chambers unanimously approved the two initiatives–one a series of technical amendments to the sponsored captive …
Not surprisingly, compensation continues to be the single largest agency expense. The average independent agency in the U.S. spent between 62.2 percent and 66.3 percent on compensation in 2000, according to The Middleton Group’s biannual Compensation Survey. +20% CT DC …
Less than half of the states are likely to have their own privacy rules in place by the July 1 deadline imposed by the Gramm-Leach-Bliley Act (GLBA), a survey conducted by the National Association of Mutual Insurance Companies (NAMIC) shows. …
A “B++” FSR was assigned to First Beacon Insurance Company, Burlington, Vt., by A.M. Best. Cited as major rating factors were the company’s favorable operating results, secure capitalization, sound liquidity and strategic role as a captive subsidiary of Lucent Technologies. …
A.M. Best’s newly published Captive Directory reports that 245 new captive insurance companies were formed in 2000, while 170 were liquidated, a net gain of 31.6 percent over 1999. Best predicted further growth in 2001 to result from a continued …
Insurance specialist A.M. Best’s newly published Captive Directory reports that there were 245 new captive insurance companies formed last year, while 170 were liquidated, a net gain of 31.6 percent over 1999. Best predicted further growth in 2001, “due to …
InsuranceNoodle announced yesterday that it is licensed to sell insurance in California, bringing its total to 34 states and nine of the 10 largest states in which the online company is doing business. Licensing in Texas-the only large state remaining-is …
A bill designed to protect information gleaned from the internal audit process of insurance companies was recently introduced in the Vermont legislature. H.B. 191, introduced by Reps. Hube and Crawford, defines self-audit information as any data resulting from voluntary, internal …
Charitable nonprofit organizations will soon have access to a new risk retention group called Alliance of Nonprofits for Insurance Risk Retention Group. The alliance was recently licensed in Vermont and offers charitable nonprofit groups up to $1 million in primary …
