N.Y. Revs Up Captive Domicile Promotion
The New York State Insurance Department, in a stepped-up effort to attract captive insurers to its domicile, announced last week that it has launched a special captive Web site and created a special staff unit that businesses can contact directly.
The initiative, said Joanna Rose, spokesperson for the department, is a “refocusing, so to speak.” She said members of the group already were employed by the department, but “we've now formed a dedicated group redefining whose responsibilities are where and making sure they are completely accessible to any businesses that want to form captives here.”
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