Login Register Subscribe
Current Issue

Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Stanley Black & Decker moves captive insurer to Connecticut

Reprints

Stanley Black & Decker Inc. has moved its captive insurer to Connecticut from Vermont, becoming Connecticut's second licensed captive.

In a statement issued Thursday, Craig Douglas, vice president and treasurer of New Britain, Conn.-based Stanley Black & Decker, said moving SBD Insurance Inc. to its home state will “create further synergies and cost savings for the company.”

Marsh Captive Solutions in Norwalk, Conn., will manage SBD Insurance, which was licensed in Connecticut on Sept. 5. Law firm Edwards Wildman Palmer L.L.P. advised the tool-making company on the captive move.

Connecticut's first captive, Thomson Reuters Risk Management Inc., was licensed July 31 when New York-based Thomson Reuters Corp. relocated its formerly Delaware-domiciled captive to the state.

Changes to Connecticut's 2008 captive law, which were included in jobs legislation that Gov. Dannel P. Malloy promoted and signed into law last year, took effect on July 1.