Vermont's Sandy Bigglestone To Lead Financial Regulation Department

Governor Phil Scott has announced that Sandy Bigglestone, the current deputy commissioner of Vermont's Captive Insurance Division, will serve as acting commissioner of the Department of Financial Regulation (DFR) beginning January 1, 2025. The transition follows the retirement of Commissioner Kevin Gaffney.

Ms. Bigglestone brings over 25 years of experience with the Captive Insurance Division, where she has been deputy commissioner since 2022. In her new role, she will oversee the department while continuing to support the Captive Insurance Division. "I'm honored to step up to serve the Department knowing that we have a robust team in the Captive Division to continue business as usual," Ms. Bigglestone said. "We continue to provide the highest quality of regulation at the speed of business for Vermont's captive insurance companies."

Under Ms. Bigglestone's leadership, the Captive Insurance Division will maintain its high standards of regulation. The division's 32 staff members have extensive experience regulating captive insurance companies, solidifying Vermont's reputation as a leader in the captive insurance industry.

Commissioner Gaffney praised Ms. Bigglestone's appointment, saying, "Sandy's extensive experience and strong leadership make her the perfect person to lead the Department as we head into the new year. The deep bench within the Captive Insurance Division ensures this change will have no impact on Vermont's captive insurance industry. This will be a smooth transition, and I thank Sandy for stepping into this role."

Mr. Gaffney, who has been commissioner since 2022, is retiring after a distinguished career with the DFR. He was named deputy commissioner of insurance in 2019, following more than a decade as director of the Insurance Division's Rates and Forms section. Mr. Gaffney has been a staunch advocate for Vermont's captive insurance industry throughout his tenure.

Ms. Bigglestone is pictured above. (Courtesy photo.)