Current News

Vermont Business Magazine AMBest, in a new report, believes an updated captive insurance law in Vermont, which allows for the inclusion of agency captives, makes the nation's largest captive domicile even more attractive for potential formations.A newBest’s Briefing, “New Vermont Law Aims to Attract and Retain Captives,” states that the signing of House Bill 85 in Vermont into law, and its inclusion of agency captives, highlights the push by the insurance industry in recent years to get closer to the insureds.

Many agents have deep-rooted relationships with profitable books of business. The agency captive will allow them to continue to control that relationship through working with a primary carrier, while sharing in the risk by participating in the fortunes of the business written.

Vermont Business Magazine High school youth activists joined community tobacco coalition volunteers and state health officials today in releasing the results of a public opinion survey that illustrates the role flavored tobacco products play in introducing youth to tobacco use. Amaya Rogers, a freshman at Harwood Union High School presented the results with Burlington High School senior Noah Smith. Rogers said a key point she learned is that youth were twice as likely as adults to try a flavored tobacco product.

"For one part of the survey, we presented photos of flavored and non-flavored tobacco products, without words or labels on them so people could see them just as they would when shopping," said Rogers. "The results tell me that tobacco companies are successfully targeting my age group."

by Richard Galbraith, John Evans and Briar Alpert At the University of Vermont’s May 2017 Board of Trustees meeting, a trustee asked this question in open session about the White House’s recent budget proposal: “How would the proposed cuts to federal agencies like National Institutes of Health and National Science Foundation impact research at UVM?”

The short answer? Significantly. The reductions would curtail our efforts to make new discoveries across a range of fronts – from biomedicine to nutrition to engineering to the physical sciences – that could be of great benefit to Vermont and society at large.

by John McClaughry The news media are reporting the battle in Washington over the future of ObamaCare, and its proposed replacement American Health Care Act, as mainly a debate over “coverage.” This is understandable, but the national debate over health care policy ought to be far more broad. We need to look more closely at why, aside from accidents, people need health care.

Paul Jarris MD was Vermont’s exceptionally able Health Commissioner in 2004. At a Snelling Institute conference I attended, Paul told us that 51% of Vermonters suffered chronic illnesses, and 78% of our health care dollars were spent on them. Other estimates of the contribution to health problems of personal lifestyle choices – tobacco, alcohol, drugs, obesity, inactivity etc. – are in the 40-50% range.

Vermont Business Magazine Phoenix Books Essex announced Monday that the store will move to a larger space in late July. The new location is at 2 Carmichael Street in Essex, just around the corner from the bookstore’s current home at Essex Outlets. Phoenix Books was founded in Essex in 2007 by Michael DeSanto and Renee Reiner, and has since added locations in Burlington, Rutland, and Chester, Vermont, plus a sister store in Woodstock. DeSanto reaffirmed the store’s commitment to Essex, and said that the new lease is for 10 years or more.

”We love this community, and our customers have been strong supporters of Phoenix Books,” said DeSanto.

Vermont Business Magazine The Visiting Nurse Association of Chittenden and Grand Isle Counties (VNA) Board of Directors voted unanimously on Thursday, May 25, 2017, to sign a non-binding Letter of Intent to explore a formal affiliation with the UVM Health Network, the parent organizationof The university of Vermont Medical Center.The agreement recognizes the on-going changes in health care delivery and the importance of greater integration and collaboration among providers, resulting in improved care and lower costs.

The Letter of Intent sets in motion a formal due diligence process, expected to last several months. During this time the VNA and UVM Health Network will further explore the benefits and impact of Vermont’s oldest and largest home health and hospice agency becoming the first affiliate dedicated to providing post-acute, community-based care.

Vermont Business Magazine The Bullrock Corporation of Shelburne announced today that it has received a Certificate of Public Good that will enable it to construct the state’s largest solar array intended for consumption by Vermonters. The 5.7 megawatt project will be built in Grand Isle on 57 acres of land leased from Dreamwalker Farm. Construction is slated to begin in July and will employ approximately 40 people during the six-month project. The lease allows the farm to remain in agriculture and avoid development.

Vermont Business Magazine Mayor Miro Weinberger released the following statement announcing he has joined hundreds of mayors and leaders from across the country in signing an open letter, released today, declaring that the signatories will continue to support the Paris Climate Agreement: “Burlington is proud to be the first city in the nation to source 100 percent of its energy from renewable generation, and we are now working hard to become a net zero energy city,” said Mayor Weinberger. “I am excited to work with leaders of state and local governments, businesses and institutions to achieve the Paris Agreement’s goals regardless of last week’s disastrous decision by President Trump. Together, we can and will do our part to save the planet.”

Vermont Business MagazineGovernor Phil Scott, joined by a bipartisan group of Bennington County lawmakers, signed S10 into lawFriday. The legislation is designed to protect the drinking water of families and communities from chemical contamination. The new law, co-sponsored by Bennington County Senators Dick Sears and Brian Campion, holds individuals and businesses liable for the release of perfluorooctanoic acid (PFOA) in or near drinkable water sources. The law creates strict penalties for PFOA detected in areas that could pose potential harm to the drinking water of municipalities within the state of Vermont.

Vermont Business Magazine Last Friday, 13 business, low income, faith and environmental organizations denounced President Trump’s decision to withdraw the US from the Paris Climate Agreement and sent a letter to Governor Scott urging swift action to stem the negative consequences of this shortsighted move. They've issued a letter saying they are pleased that Governor Scott has decided that Vermont will join other state’s in the US Climate Alliance; one of six specific actions the groups called on Scott to take. The organizations thanked the governor for taking this first step and ask him to act on five other specific requests.

Vermont Business Magazine The states with the most robust economies are tending to be on the coasts, while the interior of the US is growing more slowly. Vermont ranks 26th. On the top five "best" and "worst" subcategories, it is in only one, ranking second best in educational attainment of newcomers. Other states have seen a tremendous rebound from the Great Recession. California, for instance, blossomed in 2016 as the sixth largest economy in the world, boasting a GDP that’s comparable in size to the UK’s and even larger than those of France and India. Meanwhile, Illinois continues to be in a fiscal free fall, with a record $14.5 billion in unpaid debt — imperiling its schools and social programs — as well as the second-highest unemployment rate in the Midwest.

Vermont Business Magazine Norwich University officials have named its new Provost, CIO, and Dean of the College of National Services. The Northfield university has named Sandra G. Affenito, PhD, as new provost and dean of faculty beginning August 1, 2017. Affenito comes to Norwich after serving as associate provost and dean of Graduate Studies and Research at the University of Saint Joseph (USJ) in West Hartford, Ct. As dean at USJ, Affenito functioned as a Chief Academic Officer for two major academic units. She established the Center for Student Research and Creative Activity; the Academics and Art Alliance; advanced teaching, research, scholarly and creative activities; and expanded professional development for faculty and academic staff. Affenito has over twenty-five years of leadership and administrative experience in higher education, health care, and the corporate sector.