Charter Communications Moves Entire Captive Operations to Connecticut

Connecticut Governor Dannel P. Malloy announced that Stamford-based Charter Communications, the nation's second-largest cable company, recently expanded its business footprint in the state by basing its entire captive insurance operations there.

Charter's captive insurer, Spectrum Communications Indemnity, Inc., is the largest of 15 captive insurers licensed in Connecticut and will provide coverage for the company's workers compensation, auto liability, general liability, and employment practices liability.

"We are delighted that Charter has chosen Connecticut to grow its captive insurance operations,” state Insurance Department Commissioner Katharine L. Wade said. "This gives the corporation the critical tools it needs to manage its costs and reinvest in its employees and overall operations. Connecticut provides companies of all sizes with a collaborative, prudent regulatory environment aimed at creating sustainable captives to insure and manage their risks for the long term."

"As a Stamford-headquartered business, Charter is pleased to bring our insurance captives to the state of Connecticut," said Catherine Bohigian, Charter's executive vice president for government affairs. "As Charter continues to grow in Connecticut, we look forward to furthering economic opportunities in the state."

The Insurance Department initially licensed the captive insurer in December 2016, and Charter merged all its captive insurance operations as of May 31, 2017. Charter's combined assets were approximately $400 million following the merger. Annual premiums are anticipated to be approximately $157 million for the current fiscal year.