Policy and Progress: How Vermont Continues to Shape Captive Insurance Legislation

Captive insurance legislation does not materialize in a vacuum—and in this episode of the Edge of Risk Podcast by IRMI, Ian Davis, president of the Vermont Captive Insurance Association (VCIA), explains how Vermont continues to set the national standard for legislative leadership in the captive industry. Mr. Davis shares how Vermont's long-standing commitment to clarity, flexibility, and responsiveness has guided the state's statutory framework since 1981, emphasizing that consistent dialogue among regulators, lawmakers, and industry participants remains essential to thoughtful and effective policymaking.  

He also outlines recent priorities—including modernization around cell structures and preparation for emerging risk themes such as artificial intelligence; environmental, social, and governance considerations; and evolving tax requirements. Mr. Davis encourages captive owners and service providers to engage directly by participating in VCIA's legislative and advocacy committee, noting that industry insights play an essential role in shaping policy direction and maintaining Vermont's reputation for collaborative, practical, and forward-looking regulation.