captive insurer News

Lyft, Uber Shift Some Risk to Captive Insurers

Ride-sharing giants Lyft Inc. and Uber Technologies Inc. seem to have found the same solution for dealing with the risks of managing millions of drivers on the road: Creating their own insurers in Hawaii. On Friday, Lyft told potential investors …

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 …

AT&T Licensed for Captive Insurance Operations in Texas

The Texas Department of Insurance (TDI) has licensed Gateway Rivers Insurance Co., the captive insurance subsidiary of AT&T Inc. Gateway Rivers is based in Dallas. “We’re very pleased to have this business in Texas,” said Commissioner of Insurance Julia Rathgeber. …

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 …

Connecticut Announces Its 3rd Licensed Captive Insurance Company

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 …

North Carolina Enacts Captive Insurance Bill

A recently enacted bill in North Carolina will permit, for the first time, the creation of captive insurers based in the Tar Heel State. The North Carolina Captive Insurance Act (HB 473) was signed into law by Gov. Pat McCrory …

N.J. Announces New Captive Insurer; 8 Captives Approved Since 2011

The New Jersey Department of Banking and Insurance announced Wednesday that the department approved Lumerica Insurance Company, a subsidiary of BASF Americas Corporation, to operate as a captive insurer in New Jersey. The Florham Park company’s principal business is to …

Vermont Licensed 32 New Captives in 2012

Vermont licensed 32 new captives in 2012 — finishing with strong showings by the construction and manufacturing sectors which each had five new licensees, according to data released on Jan. 16 by the Vermont Captive Insurance Division. Vermont Gov. Peter …

Connecticut Attracts Its Second Captive Insurer

Connecticut Governor Dannel Malloy announced last week that Stanley Black & Decker is moving its captive insurance subsidiary, SBD Insurance, Inc., from Vermont to Connecticut, establishing the state’s second captive insurer. Stanley Black & Decker is a New Britain, Conn.-headquartered …

Thomson Reuters Establishes Connecticut’s First Captive Insurance Co.

Connecticut Gov. Dannel Malloy announced today that international media and information company Thomson Reuters has relocated its U.S. insurance subsidiary from Delaware to Connecticut. The subsidiary, Thomson Reuters Risk Management Inc., is Connecticut’s first captive insurance company. Gov. Malloy said …