A number of U.S. states are creating captive domiciles to compete with Vermont, South Carolina, Hawaii and other long-established leaders. We interviewed Richard Smith, president of the Vermont Captive Insurance Association, and Kevin Doherty, chairman/president of the Tennessee Captive Insurance Association, to explore the new landscape of captive regulation. Smith held senior positions in Vermont state government before joining VCIA. Doherty is a partner in the Nashville law firm Burr & Forman LLP and helped rewrite the Tennessee captive law in 2011.

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