14 June 2023Analysis

CTCIA event to celebrate passage of SB 1038

The Connecticut Captive Insurance Association (CTCIA) is holding a ‘Mixer & Legislative Thank you’ event to mark the passage of a captive-friendly bill in the State legislature.

CTCIA said that it is inviting its friends & colleagues 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.

Under the bill, a sponsored captive’s protected cells can establish separate accounts and allocate assets to them to insure the risks of participants or participants’ controlled unaffiliated business. The bill establishes several requirements that generally maintain the accounts’ independence from other accounts and protected cells.

“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,” said CTCIA in a statement. “We are 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.

The event will be held at Salute Restaurant in downtown Hartford on Monday June 26 at 5pm EST.