Crisco hosts hearing on captive insurance

Earlier today state Sen. Joseph J. Crisco, D-Woodbridge, Senate Chairman of the Insurance and Real Estate Committee, hosted an informational hearing on captive insurance.

Members of the Insurance and Real Estate Committee were joined by representatives from newly formed captive insurance companies, certified public accounts in the insurance field and a senior from UCONN School of Business.

“Captive insurance is important to the Connecticut economy because it represents jobs here in the state,” Crisco said. “Connecticut is known as the insurance capital of the world and it is important that we keep up with this evolving market. Our goal is to attract more domestic and offshore companies to the state to keep us competitive with not only other states but the world.”

“Within the captive insurance market there are so many untapped opportunities and potential,” said Rocco Martin, a UCONN senior who recently became sponsored by a risk management firm for his outstanding work. “Companies need to do more than just be reactive to current trends. It should also be more than just proactive, what is needed is to be innovative and creative with strategic planning. Connecticut is the insurance capital of the world and has the potential to transform the landscape of insurance.”

Senate Bill 188 “An Act Concerning Captive Insurance Companies” is currently being considering by the General Assembly. 
The bill would modernize Connecticut's laws regarding captive insurance companies allowing the state to become more competitive in an evolving market. A captive insurer is an insurance company or entity formed to insure or reinsure the risks of its owners. 
The law allows a captive to be licensed and domiciled in Connecticut to transact life insurance, annuity, health insurance and commercial risk insurance business.


This is a press release from Crisco's office.

Seymour teen is an inspiration

Alex Steinbrick /Register photo by Peter Hvizdak 

I was inspired Wednesday after I met an amazing Seymour High School student.

Alex Steinbrick, 15, is clearly someone who won't let any obstacles get in the way of accomplishing what he wants to accomplish.

He and his mom, Ellen Steinbrick, are helping plan the third annual Walk 4 Hearing to be held June 8 at Mortensen Park in Hartford.

Alex may have a hearing disability and many medical issues, but he also is blessed with lots of determination that will help him reach his goals.

Those people who complain about minor annoyances and setbacks need to take a page from Alex's play book. He surely will inspire them.


 

Proposed Ansonia project is intriguing

This is an artist's rendering of an organic recycling and energy anaerobic digestion facility that a Brooklyn, N.Y.-based company proposes to build next to the waste-water treatment plant on North Division Street in Ansonia.   

I attended an informational meeting about the project at Ansonia City Hall last week and came away intrigued by what the $30 million, state-of-the-art plant could mean for the city's future.

What do you think of the proposal?