The State of Vermont just announced that the Department of Financial Regulation (DFR) has licensed Vermont’s 1,100th captive insurance company. AssureCap Indemnity, LLC was licensed as a Sponsored Captive Insurance Company. It was formed by Assurance Agency, Ltd., which was recently named the 41st largest insurance broker in the United States by Business Insurance magazine and is now the largest independent insurance brokerage in Illinois.
According to the announcement, Assurance Agency, Ltd. President Daniel Klaras said Vermont was an easy choice. “We know how important it is to be in an environment that has an established track record with proven experience,” he said, “so when we compared experience, governmental support and the state’s long-standing tradition of quality regulation, we knew Vermont was the place to be.” Amen, Brother!
As most of you know, Vermont is the largest captive insurance domicile in the U.S. and the third largest in the world. Congratulations to the State of Vermont’s Captive Team! Why would you be anywhere else?
Thank you all very much, and I look forward to hearing from you.