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Vermont’s captive insurance division highlights deep regulatory bench

The Vermont Department of Financial Regulation says its 32-person captive team has 300 years of regulatory experience and conducts about 100 examinations annually, plus a larger review every five years.

Reported · Written up by our desk · Industry & Deals

Vermont’s captive insurance division is drawing attention to the depth of its staff as the state maintains its leadership role in regulating captive insurers, emphasizing collaboration with industry and state lawmakers, according to Risk & Insurance.

The division, which has a 32-member staff, cites more than 300 years of combined regulatory experience and north of 500 years of combined industry experience, including seven certified public accountants and 13 accredited or certified financial examiners.

Leadership cited by Risk & Insurance includes deputy commissioner Christine Brown, assistant director Jim DeVoe-Talluto, director of examinations Dan Petterson and chief examiner Heidi Rabtoy, each described as having nearly or more than 20 years of experience in the department.

The publication also says the division’s culture is team-oriented to match the growing complexity of alternative risk transfer arrangements, and it performs about 100 examinations per year, with an annual analysis and a larger examination every five years.

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