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
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
Founder & President
New Jersey Captive Insurance Association