Thomas Hodson, president of the Connecticut Captive Insurance Association (CCIA), has described the licensing of red Apple Risk Insurance Company—Connecticut’s third captive—as “significant in so many ways”.
Hodson said: “This event not only signals gaining momentum in Connecticut’s captive insurance initiative, it is the first captive licensed since insurance commissioner Thomas Leonardi created the captive division within the department and appointed industry veteran, John Thomson, to lead the state’s regulatory efforts.”
“The comments made by John Catsimatidis, chairman and CEO of the Red Apple Group, complimenting the speed and professionalism demonstrated by the Connecticut Insurance Department in processing the captive insurance application is validation that, as the ‘insurance capital’, Connecticut intends to be the domicile of choice in the US.”
Law firm Anderson Kill & Olick acted as legal counsel on the Red Apple project through its Stamford office.
Robert Horkovich, managing shareholder of Anderson Kill & Olick, said: “We are very pleased that Anderson Kill’s captive group was selected as counsel to help our client with this project and create Connecticut’s third licensed captive insurance company.”
“Thomson was wonderful to work with—responsive at every turn and committed to helping our team complete the job on an expedited basis.”
