Connecticut’s venerable insurance industry is making a pitch for business just as the new federal health insurance marketplace begins to take shape.
Trade group The Connecticut Captive Insurance Association has scheduled a meeting on Wednesday in Stamford. Group President Tom Hodson says it’s intended to raise the profile of Connecticut to bring companies establishing captive insurance divisions.
Captive insurance companies are subsidiaries set up by large companies to insure the company’s risks. Companies can save money that would otherwise go to the bottom line of insurance companies.
The state Insurance Department began working recently to attract companies specializing in captive insurance, a form of self-insurance. The intent was to boost business and create jobs.
Hodson said there’s now “significant interest” among companies to self-insure health care benefits.
Topics Connecticut
Was this article valuable?
Here are more articles you may enjoy.
Florida Insurance Costs 14.5% Lower Than Without Reforms, Report Finds 
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance 
Trump Demands $1 Billion From Harvard as Prolonged Standoff Appears to Deepen 
Trump’s Repeal of Climate Rule Opens a ‘New Front’ for Litigation 
