Press Releases - October 26, 2017
A New Resource for Business Owners
Insurance Commissioner Katharine L. Wade today announced that the Insurance Department has launched “CT Captive Solutions for Business” – a new online resource for business owners exploring ways to control insurance costs and manage their risk.
A captive insurer is wholly owned and controlled by a parent company, an association or a group, to insure its own risk. The owner is able to reinvest savings back into the operation.
“Captive insurers are not just for large corporations but can play a very important role for small- and mid-size employers,” Commissioner Wade said. “The Department has the regulatory expertise and consultative approach to help potential captive owners find a solution that may be appropriate for them. The bottom line is we want Connecticut businesses to succeed and grow and the right captive structure could provide just what they need to do so.”
The toolkit includes instructions on licensing a captive in Connecticut, a list of recognized captive managers, FAQs and Insurance Department contacts.
- Ask a question or file a complaint online
- Call the Consumer Helpline at 800-203-3447 or 860-297-3900.
- Sign up for e-alerts to get the latest news, warnings and rate changes that may affect your premium
- Download consumer FAQs on health, homeowner and auto coverage
- Use the Department’s Speakers Bureau for public events.
- Visit our Web site and follow the Department on Facebook, Twitter or YouTube