- Result of cell ownership, insolvency dispute could prompt legislative changes in other jurisdictions
- Captive owners and insurers advised to do extra due diligence on collateral, fronting arrangements
- Vermont confident no impact on their own captive programmes
Regulators and lawmakers in cell captive jurisdictions around the world should be monitoring the fallout from the Vesttoo collateral scandal concerning White Rock cells in Bermuda.
Vesttoo, which connects capital market participants with (re)insurance risks, has been utilising Aon’s cell facility in Bermuda, but now finds itself embroiled in claims regarding fraudulent collateral.
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