Insider View: Road to Rhode Island

So far, the development of a burgeoning US run-off market that
mimics that in the UK has been all sizzle and no steak.
In 2014, the market was abuzz with excitement over a law passed
in the state of Vermont that gave live carriers the ability to
transfer books of legacy business to newly formed run-off
companies.
But unlike the UK's Part VII transfer mechanism,
Vermont's Legacy Insurance Management Act did not require court
approval and only applied to surplus...