Most of these companies anticipate the possibility of experiencing risk on underwriting results early on in their development stage. This session explored the use of captives in these instances with a specific emphasis on fintech, insurtech and startup companies. Our esteemed speakers, Mr. Robert Gagliardi Head of Captive Management at AIG and Mr. Peter Rapciewicz Senior Vice President Alternative Risk Practice Leader at Lockton discussed this topic and shared their experience with the current marketplace. Mr. John Ferrara, Senior Manager at Ernst & Young, moderated the discussion. The session explored relevant lines of insurance, the captive formation process, risk sharing options and encouraged open discussion with attendees.

Atkinson discussed the benefits of collective purchasing power available to captive members via their underwriting capability, including the ability to select service providers, determine coverage levels, manage losses, direct the use of surplus and, ideally, share in bottom line profits.

Theme: 2021 Collaborative: Captivating CT Business
Date: Thurs, November 4, 2021
Time: 1:00pm - 6:30pm
Location: Hartford Yard Goats Stadium, Hartford CT

CTCIA’s 10th Anniversary was celebrated on November 4th at Connecticut’s premier captive insurance industry event—CTCIA’s Annual Collaborative. Attendees heard from top industry experts in timely and engaging discussions that encouraged collaboration, education, and celebration amongst colleagues.

For a review of the panel discussion “CT Leading the Exploration of Captives & the Cannabis Industry”, listen to Richard Cutcher’s “GCP LIVE: CTCIA 2021” podcast episode featuring Cassie Bachman, Esq., of Captives Insure, Jack Meskunas of Oppenheimer & Co. Inc., and P.J. Cimini of Capitol Strategies Group, LLC.

The episode is available at globalcaptivepodcast.com/gcplive1 or on SoundCloud, iTunes, or Spotify.

This complimentary, educational webinar, led by Christopher Gallo, Managing Director of CIC Services and Chris Jackson, Partner at Marcum, featured a "Captive 101" which included an overview of captive insurance, the pros and cons of captive formation, and a firsthand discussion about forming and managing a captive.

On Wednesday, June 16th CTCIA held a webinar update on recent federal and state tax law changes that may affect the governance of captive insurance companies. Each year as tax components are assessed, actuaries provide important contributions to the tax documentation for these companies. This session provided an overview of recent regulatory and court decisions that may impact captives, reviewed reasons for the establishment of captive insurers in Connecticut, and highlighted recent coverages being placed into captives over the past year. Additionally, for actuarial professional consideration, they covered pricing and reserves and actuarial concepts required to support captive tax services.

On Wednesday, February 10th CCIA held a Legislative Preview event with the leaders of the Connecticut General Assembly’s Insurance and Real Estate Committee. Attendees heard firsthand about the Insurance Department’s proposed captive legislation that was before the Legislature and will be instrumental in fostering the growth of captive business within Connecticut.

Panelists

• Senator Matthew Lesser
• Representative Kerry Wood
• Representative Cara Pavalock-D’Amato
• Moderated by: P.J. Cimini, Capitol Strategies Group, LLC.

This webinar provided information about how manufacturing companies can take advantage of cost-effective risk management solutions through captive insurance entities. A Captive 101 segment was included along with a conversation with a Connecticut manufacturer about how his company currently utilizes a captive. Many manufacturers in Connecticut have already organized captive insurance companies that have proven to be financially efficient and valuable risk management resources. The Connecticut Captive Insurance Division is also very supportive of Connecticut manufacturers and is looking for opportunities to work with the industry on supporting captive insurance solutions.

Featured Speakers

• Colin Cooper, CT Chief Manufacturing Officer
• Michael Serricchio, Marsh Captive Solutions
• Mark Turner, Amphenol
• PJ Cimini, Capitol Strategies Group (Moderator)

This webinar covered the effects of climate change and especially the impact of sea-level rise on Connecticut. There were also discussions on developments in flood insurance, including the growing private flood insurance market, the interest of insurers/reinsurers, and advancements in flood modeling.

Featured Speakers

• James O'Donnell, CIRCA Executive Director, Professor
• David Evans, FCAS, MAAA, Consulting Actuary, Milliman
• Paul Hearn, Managing Member, Baralmar Advisors LLC (Moderator)

This session touched on the strength of the Hartford area insurance ecosystem in a manner that focused on the current innovation transformations happening in the field. We heard from an executive at a Top 10 insurance company and an insurtech CEO who discussed how their business relationships have progressed over time and the value that strategic partnerships have brought to the field. The President of the Connecticut Captive Insurance Association moderated and provoked some interesting discussion from the panelists as to how captives could potentially be used as an accelerator of the customer-centric benefits of insurance technology.

Featured Speakers

• David Steckel, President, Setter Homes
• Andy Kearns, Product Director, American Family Insurance
• Stephen DiCenso, Principal, Milliman (Moderator)

This session touched on why commercial carriers have been reluctant to write cannabis coverage and on the coverages that have been made available to the cannabis enterprise. There was also a conversation on the cannabis captives that have been formed to date, and which domiciles have seem more inclined to provide coverage. Also included was information and an update on the safe banking act as well as the likelihood of passage and potential ramifications to the captive industry.