Petropoulos named AIRROC  Person of the Year

BRATTLEBORO — The Association of Insurance and Reinsurance Run-Off Companies has named Anna Petropoulos, founder and president of Apetrop USA, Inc., as its Person of the Year. Apetrop USA is a Brattleboro-based company that specializes in consulting and advisory...

Vermont develops run-off capability

Vermont has further strengthened its proposition as the US’s leading captive domicile passing the Legacy Insurance Management Act, which will enable to creation of specialist insurance company that will acquire state run-off business. Commenting on the development,...

Legal and Compliance Risk Forum

Vermont recently passed a new law to encourage the formation of domestic insurers to purchase certain blocks of run-off business.  The new law, entitled “The Legacy Insurance Management Act” (LIMA), allows these newly formed entities (“LIMA companies” or “assuming...

Vermont introduces Part VII lookalike

The state of Vermont has passed a law that will make it easier for US carriers to commute their legacy books to be run off in the state. Using a similar process to a Part VII transfer under English law, the new rules will allow live companies to transfer legacy books...

Vermont looks to expand insurance industry success

MONTPELIER — Vermont is hoping to replicate its success in promoting the captive insurance industry by inviting a new type of insurance company to locate and grow in the state. Gov. Peter Shumlin on Wednesday signed a bill called the Vermont Legacy Insurance...

Goldberg Segalla’s Clive O’Connell on LIMA

… Indeed, O’Connell and two other Goldberg Segalla lawyers, Colleen Murphy and Jim Wrynn (the former superintendent of insurance for the state of New York), were in the news last week when the Legacy Insurance Management Act (LIMA) was signed into law in the US state...