Governor James E. McGreevey has signed a bill (A2370 which permits New Jersey Transit Corporation to establish wholly-owned insurance subsidiary or “captive.”
The captive must be domiciled in the U.S. in a state which is accredited by the National Association of Insurance Commissioners and which licenses and regulates wholly-owned insurance subsidiaries or captives.
Topics New Jersey
Was this article valuable?
Here are more articles you may enjoy.
‘Unusual’ Isaias Brings Winds, Downed Trees But Fewer Claims Than Expected 
Eastern States’ Grocers Shut Online Systems After Cyberattack 
Supervisor’s Punching of Employees Enough for Tort Suit, NC Appeals Court Says 
NYC Restaurants Shut Off Air Conditioning, Close on Sundays as Costs Surge 
