Public Act 23-15 Enhances Captive Insurance Companies and Strengthens Support for the Industry Connecticut Governor Ned Lamont, has signed into law Public Act 23-15, An Act Concerning Captive Insurance Companies, a groundbreaking piece of legislation aimed at bolstering the captive insurance industry in the state. The bill, championed by Commissioner Andrew Mais of the Connecticut Insurance Department (CID), marks a significant milestone in advancing a business-friendly regulatory environment that encourages innovation and supports the growth of captives to provide more options for businesses to manage their risk. Public Act 23-15 introduces several key changes to Connecticut’s captive insurance laws, offering increased support and flexibility for captives, owners, and service providers. The legislation, which will become effective on October 1, 2023, introduces the…
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