A New York captive insurer, formed to cover the liability of New York City contractors and subcontractors involved in the World Trade Center debris cleanup, said those officials faulting the way it conducts business do not understand its purpose.

The WTC Captive Insurance Company Inc., backed by $1 billion in federal money, was hit with a letter last week from New York Insurance Superintendent Howard Mills, demanding that the New York-domiciled operation send his department a “detailed analysis of claims paid and expenses incurred” since the captive’s inception, July 2004.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.