Vermont licensed more than 40 new captive insurance companies in 2011, expects to license more this year

The Vermont Banking, Insurance, Securities and Health Care Administration has released new data that shows the state has added 41 new captive insurance companies in 2011. The state is home to more than 590 active captive insurance groups currently, with a total of 952 licensed insurers.2011 was the sixth consecutive year in which Vermont added more than 40 new captives to the market, showing the growing trend of captives in the state’s insurance industry. Captives have always been popular in the insurance business, but more insurance organizations are opting to…

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Vermont adopts single-payer health system

The state of Vermont is edging closer to a single-payer health system. The new system would have state residents transition into a publicly funded insurance program that would be responsible for paying hospital bills and other medical expenses. The system has received approval from the state Legislature and is to be built as soon as possible. Vermont is the first state in the U.S. to adopt a single-payer health system. Legislators will have to iron out the specific regulations that will govern the system before anyone can begin using it.…

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Financial News: Insurance industry becomes more attractive

The global economy is showing promising signs of recovery, but the recession took a heavy toll on nearly everyone. State governments, in particular, suffered in the wake of the economic calamity. In light of this, some are taking steps to remake themselves to be more attractive to businesses, specifically insurers. Vermont is the latest to join these ranks, joining Utah, South Carolina, Delaware and Hawaii, each making changes to their regulatory policies to bring in big insurers. Many insurance companies partake in a number of business transactions that they would…

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