VT H0649

Risk retention groups are prohibited from making loans to or investments in their members or affiliates of their members, with an exception for loans or investments in effect prior to January 1, 2026

Risk retention groups must file annual statements with the National Association of Insurance Commissioners (NAIC) by March 1 each year, including the convention blank, signed jurat page, and actuarial certification

Risk retention groups must file quarterly financial statements with the NAIC by May 15, August 15, and November 15, with all annual and quarterly statements required to be filed electronically

Each protected cell within a sponsored captive insurance company must file a sworn certification statement within 30 days of commencing business confirming it possessed requisite funding and collateral per its approved plan of operation

The act takes effect on July 1, 2026