Hartford, CT
February 3, 2014
The Connecticut Captive Insurance Association (“CCIA”) today applauded Governor Dannel P. Malloy’s announcement about Connecticut’s licensing of Frontier Service Corporation as a captive insurance company.
“The licensing of such a significant captive insurance company signals that Connecticut is off to a strong start,” said Thomas Hodson, President of the CCIA. “This latest licensing also demonstrates Connecticut’s keen understanding of the benefits of captive insurance to both businesses and to the state.”
Governor Malloy has championed captive insurance as a key tool to help companies better manage risk, lower the cost of insurance and reinvest the savings into building their businesses. In the announcement, Insurance Commissioner Thomas Leonardi also cites the state’s prominence as the “Insurance Capital” of the U.S., demonstrating its inherent insurance expertise as a real advantage for captive insurance companies.
“The growth of the captive industry in Connecticut is supported by the state’s tremendous insurance infrastructure,” said Hodson. “We believe Connecticut stands alone when it comes to its depth and breadth of insurance expertise.”
About the Connecticut Captive Insurance Association
The Connecticut Captive Insurance Association is a nonprofit trade association formed to support the growth of the captive insurance market in Connecticut.
The mission of the CCIA is to:
- promote the interests of the captive insurance industry;
- provide a communication interface for members and other groups;
- establish policy positions on major issues that affect its members;
- represent the interests of the captive insurance industry before federal, state and local government bodies;
- provide its members with opportunities for education.
