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State of Vermont
Office of the Governor
JAMES H. DOUGLAS, GOVERNOR
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Official Statement of the Governor on the Withdrawal of Federal Captive Insurance Regulations Contact: Jason Gibbs I am very pleased that the Internal Revenue Service (IRS) has withdrawn a regulatory proposal that would have adversely affected captive insurance companies in Vermont and throughout United States.
Captive insurance is a very important part of Vermont’s economy and I appreciate the well-coordinated efforts spearheaded by the Vermont Captive Insurance Agency with support from me, the National Governors Association, our delegation in Washington and many others.
This decision will allow Vermont to maintain its
position as the premiere domestic domicile for captive insurance companies
and support continued economic growth and the creation of more good jobs
in this important sector of our economy.
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