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Wells Fargo gets OK to fund benefits with captive

WASHINGTON—Financial services industry giant Wells Fargo & Co. has received final U.S. Labor Department approval to fund benefit risks through its Vermont captive. San Francisco-based Wells Fargo is using its...

Cephalon seeks to fund benefits through captive

WASHINGTON?A major biopharmaceutical company is asking the Labor Department for permission to fund employee benefit risks through the Vermont branch of its Bermuda-domiciled captive insurer. Cephalon Inc., which is based...