It’s no secret to those of us in the captive industry that
health care liability captives make up a major part of the current captive
assets and liabilities throughout most of the major domiciles. In Vermont and
Cayman, health care liability underwriting programs very much dominate the
scene in terms of sheer numbers.
So it’s with great pride that I announce the August 1, 2017
re-domestication of Keystone Indemnity Company, Ltd. to Connecticut.
Any captive formation in Connecticut is an important one to all
of us at CCIA...but a mature captive underwriting medical professional liability
coverage for Connecticut’s preeminent senior care services organization,
Masonicare, is a real coup...and we can be justly proud.
Now, the next question seems to be a simple one to me: who
will be next? Which one of the many captives owned by Connecticut-based health
care facilities and physician practices will “come home” to Connecticut?
Jon-Paul Venoit, the President of Masonicare (the parent of
Keystone), specifically cited “the special energy” of the captive movement in Connecticut...and
he wanted his captive to be a part of that.
So, to the many Connecticut health care facility parents of
captives in Cayman, and Vermont, and elsewhere...I invite them to bring their
captives “home.” The special energy of the captive movement in Connecticut, and
the way in which our regulators have created an environment encouraging
re-domestication, has to be seen to be believed.
- Michael Maglaras, Chairman, Connecticut Captive Insurance Association
