Moody's Captive Approved In N.Y.

NU Online News Service, June 19, 12:43 p.m. EST?The New York State Insurance Department yesterday announced that Moody's Assurance Company Inc. has been licensed as a captive insurance company in New York.

"I am pleased to announce that Moody's has created a captive here in New York State," said Superintendent of Insurance Gregory V. Serio. "In the contraction of the commercial insurance market, the formation of captives is a valuable and more flexible option for companies in managing their insurance needs."

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.