Word: creasey
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Dates: during 1990-1999
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...Daniel Creasey, president of the Risk Management Foundation, said the Controlled Risk Insurance Company (CRICO), which is based on the island of Barbados, might be moved to a state with a law permitting captive insurance companies. Such companies, which allow hospitals and universities to write insurance policies for their own doctors, do not have legal standing in Massachusetts...
...exploring options to domesticate the group," Creasey said...
Harvard established the Cayman CRICO in 1976 and added the Barbados CRICO in 1986 in order to take advantage of a favorable tax treaty between the U.S. and the island. But the Barbados company has been dormant since the treaty expired in March 1989, and Creasey says he is looking to move...
...Creasey said he might attempt to have the Barbados CRICO designated a "surplus lines carrier," which means it could gain legal standing in the U.S. to write policies...