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State looks to expand insurance industry success

By Associated Press, February 19, 2014

MONTPELIER, Vt. —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 Management Act. It allows specialized insurance companies to operate in the state that take certain commercial policies off the hands of other insurance companies that don’t want them anymore.

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