Kane expands in Vermont – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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Kane expands in Vermont

Risk and insurance management service provider Kane, which has offices in Bermuda, has announced the formation of a new sponsored captive company in the State of Vermont as its expands its suite of segregated cell services.

Kane (Vermont) SCC Inc (Kane SCC), which is licensed by Vermont, Kane SCC is owned and managed by Kane (USA) Inc.

The sponsored captive enables participants to segregate their liabilities into one or more protected cells. Following the recent expansion of Vermont’s captive legislation, Kane SCC provides a platform for its clients to establish both incorporated and unincorporated cells.

Elizabeth Steinman, managing director and president of Kane USA, said: “The cell structure provides an ideal solution for those companies eager to achieve the advantages of the self-insurance strategy, but not in a position to make the necessary corporate or financial commitment to a wholly-owned captive.

“Kane SCC offers clients the many advantages of a captive with potentially reduced administrative costs and lower capital requirements.”

Stephen May, CEO of Kane, said: “The formation of Kane SCC, our first US-based cell company, is another major step in our efforts to further enhance our product offerings and our domicile neutrality. By expanding our global capabilities, we are able to provide the most effective self-insurance structure and the most appropriate jurisdiction to best achieve our clients’ strategic objectives.”

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Published August 10, 2011 at 2:00 am (Updated August 10, 2011 at 10:41 am)

Kane expands in Vermont

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