Fox Rothschild wins approval for New Jersey captive
The State of New Jersey’s department of banking and insurance has given Fox Rothschild the approval for an on-shore captive insurance company to insure underground storage tanks.
Carl Anthony Maio and Sandra Romaszewski, partners of Fox Rothschild, led the team in securing a captive certificate for Founders Indemnity Group.
The captive is now licensed to write insurance policies for underground storage tank owners in New Jersey in the areas of liability insurance and property and casualty insurance.
According to Fox Rothschild, recent statistics show that more than 3000 onshore captive insurers were operating in the US as of 2015. New Jersey ranked 18 on the list with 22 captives licensed.
