N.Y. Captive Legislation To Open Doors For Small, Mid-Sized Businesses 
A “groundswell” of interest from the business community may help persuade the New York Legislature to pass legislation allowing small and mid-sized businesses to form captive insurers.
The bill in question is expected to go through during this legislative session, according to the state superintendent of insurance.
The proposed bill also would allow for the formation of a pure captive by New York City to provide coverage for liability relating to or arising from activities in or near the World Trade Center site in response to the terrorist attacks of Sept. 11, 2001.
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