Now I know we Vermonters are always touting the support the captive insurance industry has received from the Governor, the Legislature and other State officials for the past 30-plus years (which is true to all of you eye-rollers!), but I think this is the first time I have seen captives as a campaign issue by one of the candidates.
Randy Brock, a Republican candidate for Governor of the State of Vermont in 2016, served as Vermont’s 28th State Auditor and currently is in his second term as a member of the Vermont State Senate. Brock says “That’s a great opportunity to think about what we do in the trust business to create a regulatory environment that’s particularly attractive, fast-moving and advanced — just the same way we did with captive insurance. Vermont now dominates that niche segment of the corporate insurance industry, thanks to a concerted effort in the 1970’s to adopt legislation to lure captives to the state. Hundreds are now based here.”
OK, admittedly he is talking about captives as example of growing another services industry in the state, and I won’t comment on either the candidate or his specific idea (we are, after all, a 501(c)3.76483-A). But I do think it is illustrative of the knowledge and support of our industry in the Green Mountain State by those seeking higher office. Now if I can only get Donald Trump and Hillary Clinton to work captives into their speeches…
Hope to see you next week in Chicago for one of VCIA’s world-famous Road Shows on October 13th. Go to www.vcia.com for more information – hope you can join us. Thanks and keep in touch!