BURLINGTON, Vt.—As Vermont approaches the 30th anniversary of the passage of the state’s landmark captive statute, the domestic captive insurance company king is not about to rest on its laurels, the outgoing chairman of the Vermont Captive Insurance Assn. says.

“There is a Yankee work ethic in the Vermont captive community. They come in early and do what is needed to get the job done,” said Tim East, who also is a director of risk management at The Walt Disney Co. in Burbank, Calif.

With Disney sponsoring two captives, Mr. East speaks with experience about Vermont’s appeal.

“We wanted to be in a domicile where captives would be held to the highest standards, where regulation would be fair but firm and where the state would recognize and provide the resources needed,” Mr. East said.

Vermont has the largest captive regulatory staff of any state. Mr. East describes the state’s top captive regulator, David F. Provost, deputy commissioner in the Captive Insurance Division of the Vermont Department of Banking, Insurance Securities and Health Care Administration, as “exactly what I want to see in a regulator. He always is willing to listen. He dives in and gets into the detail.” But if something won’t work, he isn’t afraid to say so, Mr. East said.

There has been regulatory turnover. Mr. Provost, then an assistant chief examiner in the Captive Insurance Division, succeeded Len Crouse when Mr. Crouse retired two years ago.

And Sandra A. Bigglestone, a 13-year veteran of Vermont’s captive division, succeeded Peter Raymond as director of captive insurance when Mr. Raymond left last month.

“Sandy is great. She has been here a long time and understands the technical issues,” Mr. East said.

The VCIA has had its own turnover. Mr. East was involved in the nationwide search that selected Richard Smith, then deputy commissioner of the Vermont Department of Public Service, to suceed Molly Lambert as VCIA president.

Mr. East describes Mr. Smith as disciplined, focused and organized, with the ability to zero in on detail, while also understanding the big picture.