The Vermont Statutes Online
Banking and Insurance
CAPTIVE INSURANCE COMPANIES
BRANCH CAPTIVE INSURANCE COMPANIES
As used in this
subchapter, unless the context requires otherwise:
captive insurance company" means any insurance company formed to write
insurance business for its parents and affiliates and licensed pursuant to the
laws of an alien jurisdiction which imposes statutory or regulatory standards
in a form acceptable to the Commissioner on companies transacting the business
of insurance in such jurisdiction.
business" means any insurance business transacted by a branch captive
insurance company in this State.
captive insurance company" means any alien captive insurance company
licensed by the Commissioner to transact the business of insurance in this
State through a business unit with a principal place of business in this State.
operations" means any business operations of a branch captive insurance
company in this State. (Added 2003, No. 55, § 9.)