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Yacht charter communication Relocation of insurance department to Connecticut
Stamford Advocate 10/4/17: Charter Communications would further strengthen its presence in Connecticut by establishing all its reinsurance captives in the state, Governor Dannel P. Malloy said Wednesday. News comes the next trading day after Charter announces it will move 400 Atlantic St. headquarters to a 500,000 square meter facility to be built in the Gateway Harbor Point facility at 406 Washington Blvd.
In contrast to a $20 million bailout to help relocate the company's headquarters, the country's second biggest wire corporation would not get state funding for its insurances, according to the Department of State for Economy and Community Development. One charter spokesperson refused to commented on the number of Connecticut charter job openings or say whether they would be located at the company's present or future headquarters.
100 % ownership and control of a reinsurance undertaking by a holding undertaking or an organisation, which insures the own exposures of the holding undertaking. CAPTIES are licenced and supervised by the State Ministry of Health. Charter's capture deal, Spectrum Communications Indemnity Inc. is one of the 15 biggest of its kind in Connecticut and, according to government officers, will cover workers' accident and car liability policies, labor practice and Charter's general obligations.
In December 2016, the Underwriting Department acquired a license for the reinsurance company and Charter amalgamated all of its reinsurance activities until May 31, according to the state.