In this episode of The Edge of Risk podcast by IRMI, host Joel Appelbaum speaks with Jim DeVoe-Talluto, assistant director of captive insurance at the Vermont Department of Financial Regulation, about what organizations need to know when applying to form a captive insurance company. Drawing on more than 2 decades of regulatory experience, Mr. DeVoe-Talluto outlines the steps applicants should expect, the most common barriers to approval, and the importance of a strong feasibility study and experienced advisers. Mr. DeVoe-Talluto also discusses Vermont's regulatory philosophy and why early planning, clarity of purpose, and strong executive buy-in significantly improve the chance of success. Whether you're exploring a first-time captive or seeking insight into regulator expectations in one of the world's largest captive domiciles, this conversation delivers timely, practical guidance directly from the source.