New Captive Insurance Law Heralds Growth and Innovation Opportunities in Connecticut
This year marked the 21st anniversary of the introduction of the first captive insurance bill being introduced in the General Assembly. While that bill…
August 17, 2017 at 11:40 AM
7 minute read
This year marked the 21st anniversary of the introduction of the first captive insurance bill being introduced in the General Assembly. While that bill did not pass, two follow-up initiatives ultimately became law and established the captive insurance market in Connecticut.
Fast forward to the 2017 legislative session, and Connecticut again stepped forward and adopted major legislation to promote and strengthen the Captive Insurance Act and promote economic development in the insurance industry.
Captive insurance companies are utilized by large business and industries, and are increasingly being utilized by smaller companies that have discovered the effectiveness of captive insurance structures. Once recognized only as a unique “cutting edge” risk management tool, captive insurance has now found its way into the mainstream of corporate risk planning.
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