Commissioner Andrew Mais of the Connecticut Insurance Department announced a 37% increase in the state’s captive insurance sector in 2023. According to Mais, this growth includes the addition of 10 new captive insurers and 13 new cell risk-bearing entities. With …
Connecticut is updating its captive insurance law to provide more flexibility for established captive cells and allow captives to accept and transfer risk using parametrics. The legislation also provides tax benefits for owners of dormant captives. Connecticut Governor Ned Lamont …
New York City officials called on the public to help with a crackdown on unsafe e-bike shops after a spate of deadly fires caused by lithium ion batteries, the latest of which killed four people in Manhattan’s Chinatown last Tuesday. …
Insurance Commissioner Andrew N. Mais touted a year of growth in captive insurers domiciled in Connecticut. In 2021, Connecticut approved 13 captive insurers. The licenses granted by the state were for both new captive formations and the re-domestication of some …
Connecticut Insurance Department announced Thursday that it has licensed a non-profit captive insurance cooperative comprising several Connecticut municipalities and school districts that aims to give communities greater control of their health insurance costs. CT Prime, the new cooperative, will be …
The Connecticut Insurance Department announced that a Syosset, New York-based construction services firm, RC Structures, is establishing its captive insurance operations in Connecticut. The new captive, called RCX Insurance Company, is the 10th licensed captive insurer in Connecticut. “RC Structures …
Connecticut Insurance Commissioner Katharine L. Wade announced that a corporation specializing in consultation and financial management for reinsurance companies is expanding its footprint in Connecticut. The Connecticut Insurance Department said New Jersey-based SOBC Corporation is establishing a sponsored captive insurance …
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 …
Connecticut Gov. Dannel P. Malloy announced last week that the corporate owner of one of the largest grocery store chains in New York City is setting up its captive insurance subsidiary in Connecticut. The Red Apple Group, which operates Gristedes …
