The Connecticut Captive Insurance Association (CTCIA) will host a summer road show and networking event in Providence, Rhode Island, on 5 August to highlight the role of captive insurance in addressing mounting challenges in the state’s commercial insurance market. The event aims to raise awareness among Rhode Island businesses, non-profits and trade associations about the potential of captive insurance as a strategic risk management tool — particularly as the state faces sharp premium increases and reduced availability across multiple lines of coverage. Connecticut regulators and industry professionals will lead sessions exploring the benefits of captives, offering a 'Captive Insurance 101' overview, practical case studies, and regulatory insight into how organisations across sectors can build customised risk solutions. The educational push comes as Rhode Island grapples with worsening market conditions. Health insurance premiums are projected to rise by more than 20 per cent in 2026 — the steepest annual increase in over a decade. Meanwhile, the state ranks fifth nationally for auto insurance costs, with collision repair expenses among the highest in the country. One in six drivers is currently uninsured, adding further strain to the system. In property casualty insurance, Rhode Island’s exposure to hurricanes, nor’easters and rising sea levels has prompted some carriers to pull back or exit entirely, driving up premiums and pushing more policyholders onto the state’s high-cost FAIR Plan. The event will take place on Tuesday, 5 August, from 16:00 to 19:00 at Track 15 @ 1 Union Station in Providence. It is part of CTCIA’s broader initiative to expand captive adoption across the region and offer alternative solutions in the face of rising risk and cost pressures.
