September 12, 2024
CTCIA hosted Connecticut’s premier captive insurance industry event, our 2024 Annual Collaborative, on Thursday, September 12th at UCONN School of Law in Hartford, Connecticut.
Theme: Connecticut Captives Rising
Date: Thursday, September 12, 2024
Time: 1:00pm – 7:00pm
Location: UCONN School of Law, Hartford CT | Starr Reading Room
CTCIA hosted Connecticut’s premier captive insurance event, the 2024 CTCIA Collaborative: Connecticut Captives Rising, on September 12th at UConn School of Law in Hartford, CT. Leaders in the captive insurance industry discussed timely trends in the captive industry.
Key topics included:
- Parametric solutions for climate related risk management
- Financial asset & investment management via a captive policy
- Connecticut captive insurance legislation reforms
- Connecticut’s economic development outlook
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September 12, 2024
CTCIA hosted Connecticut’s premier captive insurance industry event, our 2024 Annual Collaborative, on Thursday, September 12th at UCONN School of Law in Hartford, Connecticut.
Theme: Connecticut Captives Rising
Date: Thursday, September 12, 2024
Time: 1:00pm – 7:00pm
Location: UCONN School of Law, Hartford CT | Starr Reading Room
CTCIA hosted Connecticut’s premier captive insurance event, the 2024 CTCIA Collaborative: Connecticut Captives Rising, on September 12th at UConn School of Law in Hartford, CT. Leaders in the captive insurance industry discussed timely trends in the captive industry.
Key topics included:
- Parametric solutions for climate related risk management
- Financial asset & investment management via a captive policy
- Connecticut captive insurance legislation reforms
- Connecticut’s economic development outlook
Agenda:
1:00-1:15 PM | Introductory & Welcoming Remarks
Featuring:
- PJ Cimini, CTCIA President
- Jared Kosky, Deputy Commissioner, Connecticut Insurance Department
- Fenhua Liu, Assistant Deputy Commissioner of Captive Insurance, Connecticut Insurance Department
1:15-2:00 PM | Keynote Address
- Jim Penders, Head Coach of the UConn Men’s Baseball Team
2:00-2:30 PM | Panel I: Climate Change & Parametric Solutions
Climate change is at the forefront of many conversations in the business world – especially those surrounding insurance and risk management. While commercial insurance policies for climate-related risk can be expensive and limited in scope, captive insurance policies designed with parametric solutions often encompass more for a lower cost. This discussion will explore the versatility and advantages of parametric solutions for insuring climate-related risks.
Featuring:
- (Moderator) Joseph MacDougald, Professor-in-Residence, UConn School of Law and Executive Director, Center for Energy and Environmental Law
- Alex Korb, Head of Parametric Insurance Practice, ICEYE
- Nick Bradley, Vice President of Parametric Solutions, Marsh
2:30-3:00 PM | Panel II: Investment & Financial Management
The “Investment and Financial Management” discussion will provide an overview of captive investments, the working relationship between captive and investment managers, and the unique financial benefits that can result.
Featuring:
- Jack Meskunas, Executive Director-Investments, Oppenheimer
- John Traynor, President, Cambridge Trust Wealth Management of Connecticut
- Ron Roth, President & CEO, National Network of Accountants
3:00-3:30 PM | Coffee Networking Break
Sponsored by CT IFS
3:30-4:00 | Panel III: Connecticut Captive Insurance Legislation Reforms
Connecticut’s business-friendly insurance environment, bolstered by a strong in-state workforce, continues to establish itself as one of the top captive locations in the world. During this year’s legislative discussion, attendees will hear from key legislators about Connecticut’s recent captive insurance reforms and how they reaffirm Connecticut’s competitive edge as a top choice domicile.
Featuring:
- (Moderator) PJ Cimini, President, CTCIA
- Tom Delnicki, Connecticut State Representative
- Tammy Nuccio, Connecticut State Representative
- Kerry Wood, Connecticut State Representative
4:00-4:30 PM | Panel IV: CT Economic Development Outlook
From tax benefits to a business-friendly regulatory environment, there are lots of reasons why more than 75 captive insurance companies are domiciled in Connecticut. In the “CT Economic Development Outlook” discussion, attendees will hear firsthand from local captive professionals as they outline Connecticut’s economic development plans and how they will benefit captive entities!
Featuring:
- (Moderator) John Ferrara, Managing Director, Advisory, Crowe
- Susan Winkler, Vice President and Executive Director, Connecticut Insurance and Financial Services (CT IFS)
- Fenhua Liu, Assistant Deputy Commissioner of Captive Insurance, Connecticut Insurance Department
- Wyatt Bosworth, Associate Council, CBIA
4:30-5:00 PM | Closing Remarks
The self-proclaimed “Aaron Lewis of Insurance,” Chris is an experienced insurance professional and captivating speaker. Don’t miss the opportunity to hear from him firsthand at the Collaborative!
Featuring:
- Chris Paradiso, Independent Insurance Agent & Insurance Marketing Expert, Paradiso Financial and Insurance Services
5:00-7:00 PM | Networking Cocktail Reception
Sponsored by Capitol Strategies Group LLC
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August 13, 2024
CTCIA hosted a networking reception during the VCIA Annual Conference on Wednesday, August 13th at Pascolo Ristorante in Burlington, VT.
Date: Wednesday, August 13, 2024
Time: 5:30pm – 7:30pm
Location: Pascolo Ristorante, Burlington, VT
Attendees had the opportunity to network with CT based insurance professionals at Pascolo Ristorante.
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Connecticut Captive Insurance Association Hosts Boston Road Tour Event
Connecticut Captive Insurance Association Hosts Boston Road Tour Event
Boston MA – The first stop of the Connecticut Captive Insurance Association (CTCIA) 2024 Regional Tour was held on May 20th at KPMG headquarters in Boston, Massachusetts.
Guests were provided with an overview of captive insurance, their applications, collaboration examples, as well as insights on tax and accounting details associated with captive insurance entities. Connecticut leaders also shared information about the benefits of the Connecticut domicile and the path to establishing a captive in Connecticut.
Those in attendance included business owners, industry leaders and insurance professionals from the Greater Boston area. Guests heard from key and influential Connecticut leaders including: Fenhua Liu (Assistant Deputy Commissioner of Captive Insurance at the Connecticut Insurance Department), Chris Gallo (Managing Director, CIC Servcies), State Representative Kerry Wood (House Chair of the Insurance Committee), Wyatt Bosworth (Associate Counsel, CT Business & Industry Association), Sarah Pisacich (Tax Partner at KPMG), Dan Bishop (Partner at KPMG), Susan Winkler (Vice President & Executive Director of CT Insurance & Financial Services) and Tom Cyr (Consultant and CTCIA member).
“We were extremely pleased with the turnout and excitement for this inaugural event held in Boston, our neighbor to the North,” said P.J. Cimini, the President of CTCIA. “The outpouring of interest in support by Massachusetts companies and leaders in Connecticut as a captive insurance domicile option, was heartening.” Connecticut continues to be a leading domicile for captive insurance companies, captive managers and business leaders
The event highlighted a number of business friendly collaborations and Connecticut’s recent legislative updates, including Public Act 24-138 Public Act 24-138 (House Bill 5503) “An Act Concerning Insurance Market Conduct and Insurance Licensing, the Insurance Department’s Technical Corrections and Other Revisions to the Insurance Statutes and Captive Insurance” a new measure that will allow captive insurance protected cells the ability to convert into new protected cells, incorporated cells or a new captive insurance company, including the ability for protected cells to have the flexibility to convert without any impact on the assets, rights, benefits, obligations and liabilities of the protected cell.
“The Connecticut captive insurance domicile provides a unique opportunity for innovative captive owners, managers and companies to establish and grow in a strong regulatory environment,” said Fenhua Liu the Assistant Deputy Commissioner of Captive Insurance at the Connecticut Insurance Department. “As one of the fastest growing domiciles in the
country, I was pleased to speak at this event and spread the great news about the Connecticut ‘captive advantage’ that we provide.”
The new law will allow a business that initially insured its business through a protected cell, the ability to create and form its own pure captive insurance company. This proposal will allow for the seamless transfer of the assets, benefits, obligations and liabilities associated with the insurance provided by the business’ protected cell to the business’ newly established pure captive insurance company.
“Connecticut’s business-friendly insurance environment, with strong in state workforce support, continues to prove itself as one the top captive locations in the world,” said State Representative Kerry Wood, the House Chair of the Insurance Committee. “I was proud to join with regulators, business leaders and the CTCIA to share the great message of Connecticut as a destination for insurance and financial services and to continue to support growing captive insurance industry in Connecticut throughout Massachusetts and New England by ensuring the state maintains a competitive edge.”
CTCIA serves as a center for captive insurance activity in the state. Its members include captive insurance industry leaders, professional service providers, captive insurance company owners, academia, and other interested professionals. It promotes positive policies to support the continued growth and health of the captive industry in Connecticut and holds its annual Collaborative in September of every year where industry professionals come to Connecticut to learn and network with captive insurance professionals from around the world.
Connecticut plays a critically important role in the insurance market as the state is #1 in the nation for insurance jobs per capita and provides a major amount of insurance-based intellectual capital in the market. Connecticut is also unique because it is home to more service providers, fronting carriers and reinsurers dedicated to the captive industry than any other U.S. domicile and is perennially one of the top 10 domiciles in the world for total insurance premiums.
The CT Captive Insurance Association (CTCIA), established in 2011, is one of the fastest growing and most dynamic captive insurance associations in the world and the 2nd largest in the Northeast United States. CTCIA provides professional education opportunities, networking opportunities and information-sharing though a professional network of captive insurance professionals.
For more information, please contact Kathryn Dube the Executive Director of the Connecticut Captive Insurance Association at [email protected] or 860-989-8502
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May 20, 2024
CTCIA hosted our first stop of the Connecticut Captive Insurance Association Tour in Boston, Massachusetts on Monday, May 20!
Date: Monday, May 20, 2024
Time: 3:00pm – 5:00pm
Location: KPMG Boston Offices
Two Financial Center
60 South Street
Boston, MA 02111
CTCIA is on the move! Guests joined us in Boston for our first stop on our Connecticut Captive Insurance Association Tour.
Who Attended?
- Business owners, executives of companies, associations or institutions considering the formation of a captive
- Captive professionals who want to learn about the “CT Advantage”
- College students and professors interested in learning about this growing insurance industry (students/faculty attend for free!)
Featured speakers:
- Fenhua Liu of the Captive Division of the Connecticut Insurance Department
- Chris Gallo of CIC Services
- Connecticut State Representative Kerry Wood
- Wyatt Bosworth of CBIA
- Sarah Pisacich of KPMG LLP
Together, they explored the following topics:
- Captive insurance policies and their applications
- Examples of successful captive insurance policies
- A comparison of captive and commercial insurance policies
- Tax and accounting needs associated with a captive insurance policy
- Benefits that companies can glean by domiciling their captive in Connecticut
- How to create a captive in Connecticut
The Connecticut domicile has been recognized as the best in the country by Captive Review and Captive International in recent years, and we enjoyed showing attendees how their company could benefit from establishing a captive insurance policy.
Registration included the opportunity to win four (4) tickets to watch the Boston Red Sox play the Detroit Tigers on Sunday, June 2nd at Fenway Park!
Sponsorship Opportunities: Expand your visibility to company leaders and stakeholders in the Boston area as a sponsor of the Boston tour stop! This event will target C-Suite level professionals and above.
Presenting “Hub” Sponsor Benefits:
– 3 complimentary event registrations
– Inclusion in all marketing promotions (website, email, social media, etc.)
– In-person recognition by CTCIA’s President in Opening Remarks at the event
– A dedicated social media post acknowledging your company’s support
Showcase “Paul Revere” Sponsor Benefits:
– 2 complimentary event registrations
– Inclusion in all marketing promotions (website, email, social media, etc.)
– In-person recognition by CTCIA’s President in Opening Remarks at the event
Boston “Beantown” Supporter Benefits:
– 1 complimentary event registration
– Inclusion in all marketing promotions (website, email, social media, etc.)
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Thanks to all who attended Insurtech Hartford's Captive Insurance Forum of Connecticut on April 16! It was wonderful to see so many CTCIA members, friends and colleagues in attendance.
(L-R) CTCIA President PJ Cimini, Susan Winkler of CT IFS, CTCIA Executive Director Kathryn Dube and Fenhua Liu of the Connecticut Insurance Department.
PJ also had the honor of speaking alongside (L-R) John Bourdeaux of AdvanceCT and Deputy Commissioner Jared Kosky of the Connecticut Insurance Department for the "Connecticut's Unique Ecosystem & Recent Advances in Captive Laws" panel discussion.
Featured Panels & Speakers:
How Commercial Insurers and Captives Address Coverage Issues:
Esteemed speakers explored how captive insurers assist commercial carriers and address capacity issues.
Featured speakers for this panel included William P. White of Acuity Strategic Consulting, Anna Petropoulos of Apetrop USA and Mikhail A. Raybshteyn of Ernst & Young.
Group Captives: New Approaches & Developments
Speakers focused on the use of group captives as a risk management tool. Panelists will explore changes in distribution, carriers and product choices.
Featured speakers for this panel included David Raymond of Travelers and Michael O'Malley of Strategic Risk Solutions.
Leveraging Captives for Access to Global Markets
Speakers provided an overview of how insurtechs and MGAs can leverage captive insurers to gain access to the U.S. and global markets.
Featured speakers for this panel included Zora Law, Actuary at Milliman; Gabriel Weiss, CEO & Co-Founder at XN Capital; Rachel Jenkins, Chief Operating Officer at XN Capital and Stephen DiCenso, Principal & Consulting Actuary at Milliman.
Connecticut's Unique Ecosystem & Recent Advances in Captive Laws
Speakers provided an overview of how pro-captive legislation makes Connecticut an advantageous state for captives to choose when deciding where to domicile.
Featured speakers for this panel included P.J. Cimini, Founder & Principal of Capitol Strategies Group & CTCIA President; John Bourdeaux, President & CEO of AdvanceCT and Deputy Commissioner Jared Kosky of the Connecticut Insurance Department.
Featured speakers for this panel included Michael Douglas, Director of Business Development at Aon; Dr. Marcus Schmalbach, CEO at Ryskex and James Bulkowski, Senior Manager at Ernst & Young.
InsurTech Hartford Symposium
This event was in cooperation with the InsurTech Hartford Symposium.
Venue
The forum was held at Mohegan Sun.
1 Mohegan Sun Boulevard
Montville, CT 06382
Learn More
View the registration info flyer for the forum here.
September 21, 2023
CTCIA hosted Connecticut’s premier captive insurance industry event, our Annual Collaborative, on September 21st at UCONN School of Law in Hartford, Connecticut.
Theme: 2023 Collaborative: Captivating the Future
Date: Thursday, September 21, 2023
Time: 1:00pm – 7:00pm
Location: UCONN School of Law, Hartford CT | Starr Reading Room
CTCIA hosted our Annual Collaborative, Connecticut’s premier captive insurance industry event, on September 21st. Guests joined us in the Starr Reading Room at the UCONN School of Law for insight to the trends driving the future of captive insurance, including climate change risk management, ESG (environmental, social and governance) principles, automated intelligence (AI), insurtechs and runoff/legacy solutions. Throughout the day, there were opportunities to network with fellow attendees, and we celebrated Connecticut’s recognition as “Captive Domicile of the Year” in the less than $5 billion in gross written premiums category!
Agenda:
12:30 – 1:00 PM | Registration
1:00 – 1:30 PM | Featured Remarks
Jared Kosky, Deputy Commissioner, Connecticut Insurance Department
Fenhua Liu, Assistant Deputy Commissioner of Captive Insurance, Connecticut Insurance Department
Susan Winkler, Vice President & Executive Director, Connecticut Insurance and Financial Services (CT IFS)
1:30 – 2:30 PM | Panel I: An Analysis of AI & Insurtech Applications in Captive Insurance
Automated Intelligence (AI) I is the wave of the future as it equips insurance professionals with powerful predictive intelligence coupled with more efficient use of one’s time and resources. Similar to AI, insurtechs are innovations that improve insurance processes – specifically those related to distribution, processing and predictive analysis. Both AI and insurtechs have been integrated in the insurance business by new players as well as established industry leaders. This session will summarize the roles that AI and insurtech currently play in captive insurance, and explore predictions about their roles in the future.
Featuring:
Moderator: Frank Sentner, Principal, Sentwood Consulting
Roberto Sicconi, Co-founder & CTO, dreyev
Elizabeth Foughty, Strategy Consultant & Fractional CSO, reThought Flood
Matthew Schmidt, Senior Associate – Insurance, Ecopia AI
2:30 – 3:00 PM | Coffee Networking Break
3:00 – 4:00 PM | Panel II: Captive Insurance Solutions for Managing ESG & Climate Risk
Environmental, social and governance (ESG) principals converged with climate change are having an impact on the captive insurance industry. Organizations are increasingly turning to captive insurance for risk management as they navigate sustainability and make a plan to address climate challenges. This session will unravel the intricate connections between ESG considerations, the pressing challenges of climate change and the strategic utilization of captive insurance to manage associated risks.
Featuring:
Moderator: Leah Berry, Director, Deal Advisory & Strategy – Insurance & ESG Reporting, KPMG
Joseph MacDougald, Professor-in-Residence, UCONN School of Law & Executive Director, Center for Energy and Environmental Law
Jason Ballentine, Director, Climate Risk & Resilience, KPMG
Robert Bird, Professor of Business Law, UCONN School of Law & Chair of Business Ethics, Eversource Energy
John Traynor, President, Cambridge Trust Wealth Management of Connecticut
4:00 – 5:00 PM | Panel III: An Overview of Run-Off & Legacy Solutions & Their Implications
Yesterday’s underwriting is today’s run-off…using innovative risk management for all situations! Run-Off and Legacy Solutions can help reduce and eliminate potential captive liabilities. This session will discuss innovative solutions and the legal, financial and balance sheet implications that come with these types of transactions.
Featuring:
Moderator: John West, Senior Vice President, Guy Carpenter
Christopher Becker, Director of Corporate Legal, The RiverStone Group
John Bauer, Vice President and General Counsel/Leader, Corporate Legal and Audit Services, The RiverStone Group
Brian Reardon, Head of Claims, Maiden Holdings Ltd.
5:00 – 7:00 PM | Networking Cocktail Hour & Closing Keynote
Featuring:
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CTCIA friends & colleagues gathered to officially celebrate the passage of SB 1038 in this year’s legislative session on Monday, June 26.
CTCIA friends & colleagues gathered to officially celebrate the passage of SB 1038 in this year’s legislative session and network with state legislators, insurance industry leaders and community officials.
Each year we gather to commemorate and reflect on another year of growing connections among our captive insurance network with the insurance community in Connecticut and beyond. We were very thankful to host this special event as an in-person gathering this year for all our friends and supporters to say “Thank You” for the continued support from our State Policymakers.
We hosted this special event on the beautiful patio at Salute Restaurant in Downtown Hartford and enjoyed an evening of networking, friendship and celebration!
Location:
Salute Restaurant
(Downtown Hartford)
100 Trumbull Street
Hartford, CT 06103
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This webinar provided insight on how you can drive additional savings to the health plan and captive. It was held virtually on Thursday, April 27 from 1:00-2:00 PM EST.
Amidst today’s difficult market conditions, many captive owners and risk managers see the advantage of including medical stop-loss in their captive program. But do you know how to maximize this strategy once it’s established? CTCIA hosted “How to Level Up Your Medical Stop-Loss Program” with Karin Landry, Managing Partner at Spring Consulting. She provided an overview of the strategies you can leverage for driving additional savings to the health plan and captive by addressing population health management and adopting a forward-thinking approach.
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This educational webinar explored the use of a captive solution for cyber liability insurance. The session was held virtually on March 8 from 3 to 4 PM.
With cybersecurity insurance premiums increasing and coverage decreasing, a captive solution is a great alternative to consider when insuring your business against cyber liability. Captive solutions offer savings on premiums, hard market protection, language written to benefit business owners first and potential tax savings. Plus, they include protection for “state” attacks, which cause nearly 100% of all major attacks.
Featured speakers included Chris Gallo, Managing Director at CIC Services, LLC and Damien Thomas, Principal Managing Partner at Core Business Services, LLC.