Burlco Hospital Takes a First-In-The-State StepJanuary 15, 2016 – In The News
Carl Anthony Maio was featured in the Philadelphia Business Journal article, “Burlco Hospital Takes a First-In-The-State Step” Full text can be found in the January 15, 2016, issue, but a synopsis is below.
Deborah Heart and Lung Center worked with attorneys at Fox Rothschild LLP to set up Deborah Medical Associates Insurance Co., which made it the first nonprofit hospital to form an onshore captive insurance company in the state of New Jersey.
“When Deborah first approached Fox, they originally wanted to form offshore,” said Fox Rothschild’s Anthony Maio. “We assessed the situation and advised the hospital’s leadership team to form the captive in New Jersey. Forming it in the state where the hospital is domiciled is preferable to offshore. Given New Jersey’s commitment to expanding its captive market, the state was extremely receptive to Deborah forming a captive insurance company [in New Jersey].”
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