A letter from NJCIA Founder & President, Gregg Sgambati:

May 20, 2010

Dear Prospective Member:

The New Jersey Captive Insurance Association (NJCIA) was founded to be the trade association for  the future captive insurance industry in New Jersey. 

NJCIA’s first order of business is to see through the passage of captive insurance legislation in New Jersey.  Since spring 2009, NJCIA has advocated the passage of bills to make New Jersey a captive insurance domicile.  In May 2010, a significant step forward was made when the Assembly Finance and Insurance Committee voted to move the bill to the full Assembly for vote.  In the aftermath of the move, the NJ Department of Banking and Insurance Commissioner Thomas Considine expressed his enthusiasm for this step.

A captive insurance industry New Jersey is becoming a reality.  The proposed legislation explicitly requires that service providers and agents have offices in New Jersey and that will benefit New Jersey captive experts.  New Jersey is situated in the center of the nation’s financial corridor--stretching from Boston to Baltimore.  Ellis Island, NJ/NY was once a gateway for many and it will lend this trait to help New Jersey be known as the Gateway Domicile™.

New Jersey will also come to be known as the Business to Business Captive Domicile ™ with a focus on a friendly regulatory environment and the convenience of running your captive insurance company in the center of the Amtrak Acela Express train route.  You can support the past and future effort that the association has brought to the cause of captive legislation by becoming a member.

Please review the membership categories and benefits.  NJCIA will be a different kind of trade association.  It will nurture the industry and promote the interests of its members businesses and individuals.  It will help businesses and individuals get more out of New Jersey’s business and living opportunities.  They are all intertwined with the common good of the state.  We look forward to your participation.

Sincerely,

Gregg Sgambati

Founder & President
New Jersey Captive Insurance Association
Email:   gregg.s@njcia.org