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Vermont's captive insurance industry booms - WCAX.COM Local Vermont News, Weather and Sports-

Vermont's captive insurance industry booms

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BURLINGTON, Vt. -

You may not know what captive insurance is, but Vermont is the nationwide leader in the industry.

More than 600 companies have created captive insurance programs based in Vermont, bringing them federal tax breaks and bringing Vermont state tax dollars and dozens of jobs.

This week, 1,000 insurance executives are in Burlington for the 27th Annual Vermont Captive Insurance Association conference.

David Provost is Vermont's Deputy Commissioner for Captive Insurance. He appeared on the Channel 3 News at 6 p.m. to discuss the industry and the conference.

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