Join VCIA This Year on an Incredible Journey

It quickly became apparent that an association was needed to represent the rapidly growing list of captives who were redomesticating or domiciling in Vermont. By June of 1985, Vermont had licensed 28 captives and overtaken Colorado as the largest American captive domicile.

Working closely with government officials and captive managers, VCIA played a major role in passing legislation that reserved a portion of premium taxes to be used exclusively for captive regulation, which to this day has built Vermont's Gold Standard quality of regulatory oversight and accessibility.

To ensure consistent regulation of RRGs from state to state, the National Association of Insurance Commissioners (NAIC) adds RRGs to the Accreditation Program. With the support of VCIA, Vermont becomes accredited.

Ventriss tenure as VCIA president was a major leap forward for the association as she represented the industry and its strategic partners while Vermont grew into the largest domestic and third-largest captive domicile in the world.  The hallmark of her contributions was laying the foundation for what has become one of the industry’s leading educational organizations, the International Center for Captive Insurance Education (ICCIE).

With the persistence of VCIA, Columbia Energy Group won U.S. Labor Department approval to fund employee benefit risks through its Vermont Branch Captive, setting the stage for other employers to do the same.

VCIA, in collaboration with the State of Vermont, host the first captive insurance roadshow in New York City, extolling the virtues of captive insurance and spreading awareness about its worth as an innovative risk management tool. Since 2002, VCIA has hosted more than 60 roadshows throughout America.

And despite the meteoric growth of captives, the same cap is still in place today.

The International Center for Captive Insurance Education (ICCIE), created by the VCIA, is officially launched to develop a pool of qualified captive insurance professionals through a comprehensive education program. In 2024, ICCIE celebrated its 20th anniversary at the VCIA Conference, where, with the help of VCIA, fundraised over $60,000 for future initiatives.

The efforts of the IRS Coalition, led by VCIA and Captive Insurance Companies Association (CICA), helps roll back proposals from the IRS that limited insurance tax treatment of captive insurance companies.

And cements VCIA as the ultimate captive conference in America, and perhaps the world.

Richard Smith becomes VCIA’s President afte ra long history of public service to the State of Vermont, including seven years as Vermont’s Deputy Commissioner for the Vermont Department of Economic Development. Smith goes onto have 12 productive years in the role leading VCIA.

 VCIA supports captives to purchase Vermont Affordable Housing Tax Credits to offset annual premium tax liability, a win for captive sand affordable housing in Vermont. VCIA also drives approval for state approval of Agency Captives. Agency Captives are reinsurance companies controlled by an insurance agency or brokerage firm.

The virtual event brought in over 500 participants and was an important way to keep VCIA viable and prepared to overcome any pandemic challenges.

Thank to the tremendous partnership between the VCIA and the Vermont Department of Financial Regulation and Economic Development.

And builds relationships with Latin American companies and Latin American insurance associations that are still bearing fruit today.

A 40th anniversary sponsorship campaign is established for partners to support VCIA's ambitious strategic initiatives rollout, which includes a new website, brand and logo, and other exciting programs!