What is the Definition of Captives?
What is the Definition of Captives?
Insurers that are created and wholly owned by one or more non-insurers, to provide owners with coverage. A form of self-insurance.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Insurance?
What is the Definition of Captives?
Check out other definition of insurance terms below:
What is the Meaning of FOREIGN INSURANCE COMPANY In Insurance Terms?
Name given to an insurance company based in one state by the other states in which it does business.
What is the Meaning of FRAUD In Insurance Terms?
Intentional lying or concealment by policyholders to obtain payment of an insurance claim that would otherwise not be paid, or lying or misrepresentation by the insurance company managers, employees, agents and brokers for financial gain.
What is the Meaning of FRATERNAL INSURER In Insurance Terms?
A nonprofit organization that is operated solely for the benefit of its members and that provides its members with social and insurance benefits. Also known as fraternal benefit society.
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