Moody's Captive Approved In N.Y.
NU Online News Service, June 19, 12:43 p.m. EST?The New York State Insurance Department yesterday announced that Moody's Assurance Company Inc. has been licensed as a captive insurance company in New York.
"I am pleased to announce that Moody's has created a captive here in New York State," said Superintendent of Insurance Gregory V. Serio. "In the contraction of the commercial insurance market, the formation of captives is a valuable and more flexible option for companies in managing their insurance needs."
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