New York governor Kathy Hochul has signed the FY2026 state budget into law, which allows the New York Convention Centre (Javits Centre) to create a pure captive insurer.
The insurance law has been amended by expanding the definition of industrial insured to include the Javits Centre, allowing it to be among the specifically named entities authorised to form a captive after applying to and being licensed by the New York Department of Financial Services.
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