RC Structures of Syosset, New York, is basing its captive insurance operations in Connecticut, the state’s insurance department has revealed.
The new captive, RCX Insurance Company is the tenth captive to be licensed in the state since 2011.
Janet Grace, programme manager for Connecticut’s captive insurance division, commented: “The department works with businesses of all disciplines and sizes to help control costs through the creation of captives that are well managed and sustainable.”
“Our consultative approach to helping firms explore and license captives as part of strategic risk management is attracting businesses both in and outside Connecticut to domicile their captive here.”
Jason Giessel, owner of RC Structures, added: “I feel very confident that our captive insurer will be a very effective management tool for our entire operation allowing us to remain competitive and grow our business.”
