Connecticut Announces its 10th Captive Insurer

A specialty concrete company based in New York is establishing a captive insurance operation in Connecticut. RCX Insurance Co., the captive insurance operation of RC Structures of Syosset, New York, is the 10th licensed captive insurer in Connecticut. The move was announced Thursday by Connecticut Insurance Commissioner Katharine Wade. State legislation passed in 2008 gave employers the right for the first time to create and license Connecticut-based captive insurers. Legislation in 2011 updated the state’s captive insurance law and created the Connecticut Insurance Department’s ...