captive insurance News

Aetna to Establish Captive Insurance Company in Connecticut

Connecticut Gov. Dannel P. Malloy announced last week that Hartford, Connecticut-based health insurer Aetna is establishing its captive insurance company in its home state, becoming the state’s fifth licensed and largest captive insurer to date. Aetna’s captive, the Aetna Risk …

Delaware Reports Continuing Growth in Captive Program

Delaware’s Insurance Commissioner Karen Weldin Stewart announced Monday the state grew its number of captive insurers in 2013. The regulator said year-end 2013 numbers are 298 licensed captives (with 266 being active), up 41 percent from 212 licensed captive insurers …

N.C. Department of Insurance Issues Its 1st Captive Insurance License of 2014

North Carolina’s Insurance Commissioner Wayne Goodwin announced last Friday that one of the nation’s largest convenience store chains has formed a captive insurance company in North Carolina. The Pantry Inc., based in Cary, N.C., has formed Cellarium Insurance Company Inc., …

Vermont Gov.: 2013 Was a Terrific Year for Captive Insurance

Last year was a banner year as Vermont celebrated the 1000th new captive, but there were plenty of other notable accomplishments as 29 new captives were licensed, according to data released by the Vermont Captive Insurance Division. The new captives …

BevCap Captive Group Names Hawaii Domicile

BevCap Management has announced the formation of BevCap Sponsored Captive Insurance Inc., domiciled in Hawaii. BevCap Sponsored Captive Insurance Inc. is a cell captive, with its first cell being BevCap Health, a heterogeneous group captive. BevCap Health is a self-funded health …

N.C. Commissioner Delivers Keynote at Inaugural Captive Insurance Seminar

North Carolina’s Insurance Commissioner Wayne Goodwin on Wednesday delivered the keynote presentation, “Why North Carolina?” to captive insurance managers and service providers, regulators, legislators and other interested parties at the first North Carolina Captive Insurance Association (NCCIA) seminar in Raleigh.With …

National Interstate Launches Captive for Waste Haulers

National Interstate Insurance Co. has formed a new group rental captive for waste haulers to complement its traditional insurance program.  The company is now seeking operators with a solid track record in the waste industry to become founding members. According …

MTA’s Captive Insurer FMTAC Comments on Coverages for Train Derailment

New York’s Metropolitan Transportation Authority (MTA) has a wholly owned insurance subsidiary, a captive insurer called the First Mutual Transportation Assurance Company (FMTAC), that will provide part of the coverages for liability and property losses stemming from the Dec. 1 …

MagMutual Creates New Captive for Physician Practices, Hospital Systems

MagMutual Insurance Co., a medical professional liability insurer in the Southeast, has formed OURCell Captive, P.C.C.  A wholly owned subsidiary of MagMutual, OURCell Captive provides physician practices and hospital systems that desire to actively participate in the retention and management …

Vermont Celebrates 1,000th Licensed Captive Insurance Company

Vermont Gov. Peter Shumlin and other state officials announced Thursday that the state’s Department of Financial Regulation (DFR) has licensed Vermont’s 1,000th captive insurance company.At a Statehouse ceremony Thursday, DFR Commissioner Susan Donegan signed the license for the 1,000th captive …