Vermont has been the leading risk retention group domicile since the passage of the Liability Risk Retention Act in 1987. In addition, since Vermont passed its captive law in 1981, just four individuals have headed the captive division of the Vermont Department of Financial Regulation (Vermont DFR).
Ed Meehan was the first director of captive insurance in Vermont. Len Crouse took over as director of captive insurance in 1990 and was later appointed deputy commissioner of the captive division in 2003.
Crouse stepped down as deputy commissioner in 2008 and was replaced by David Provost. With the recent retirement of Provost, Sandy Bigglestone has been appointed as the new deputy commissioner of captive insurance at the Vermont DFR. The Risk Retention Reporter touched base with Sandy to discuss her recent promotion, what’s next for Vermont, her work on the NAIC RRG Task Force, and the rest of the captive team in Vermont.
Congratulations again on the appointment as deputy commissioner. Vermont has a long track record of success as a captive domicile. How do you plan to carry on the legacy of former deputy commissioners like David Provost and Len Crouse? And do you have any thoughts on how Vermont can continue to grow and evolve as a captive domicile in the coming years?
Sandy Bigglestone: Thank you, Chris! I’m ready to take this next important step in my regulatory career at the Vermont DFR. You are correct that there is a long track record of success, and that has been very intentional. Vermont recognizes the importance of a seamless transition with leadership. After all, succession planning is predicated on success and the drive to uphold the same momentum regardless of leadership change.
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