By Andy Delaney Two opinions on Friday. Let's get to it. First up we have a tiff between Travelers and the Department of Financial Regulation (DFR). Travelers wanted records from DFR about Middlesex Assurance Company, a Vermont captive insurer. If you don't know what captive insurance is, it's essentially an insurance company that is wholly owned and controlled by its insureds. In this case, there's ongoing litigation in New Jersey and Middlesex Assurance is Johnson & Johnson's Vermont captive insurer. Why Vermont, you might ask? Well, since 1981, when Vermont was one of the first states to pass captive insurance legislation, Vermont has more or less been the captive insurance capital of the United States. Now, certain information has to be filed with DFR in order for a captive insurance license to be issued. This info is considered confidential and DFR can only release these confidential records about captive insurers under specific conditions. So...
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