Governor James E. McGreevey has signed a bill (A2370 which permits New Jersey Transit Corporation to establish wholly-owned insurance subsidiary or “captive.”
The captive must be domiciled in the U.S. in a state which is accredited by the National Association of Insurance Commissioners and which licenses and regulates wholly-owned insurance subsidiaries or captives.
Topics New Jersey
Was this article valuable?
Here are more articles you may enjoy.
Intersecting Risks and the Future of Construction Insurance 
Florida’s Unemployment Rate Is Surging Even as High-Profile Companies Move In 
Need Wind Mitigation? New Florida Insurer Wants to Help With That 
NAIC Victim of Cyber Incident Via PeopleSoft System 
