Captive insurance company definition

Captive insurance company means a pure captive insurance company, association captive insurance company, captive reinsurance company, sponsored captive insurance company, special purpose captive insurance company, or industrial insured captive insurance company formed or licensed under this chapter. For purposes of this chapter, a branch captive insurance company must be a pure captive insurance company with respect to operations in this State, unless otherwise permitted by the director.

Captive insurance company means any pure captive insurance company, association captive

Captive insurance company means any pure captive insurance company, association captive insurance company, agency captive insurance company, sponsored captive insurance company, industrial insured captive insurance company, special purpose captive insurance company, special purpose financial captive insurance company or risk retention group, whether domestic, foreign or alien, or branch captive insurance company, licensed under the provisions of this chapter.”.

Examples of Captive insurance company in a sentence

• However, a plan is not considered self-insured merely because one factor the insurer uses in deter- mining the premium is the employer’s prior claims experience.(iii) Captive insurance company.

• Captive insurance company is established to provide insurance coverage for its owner (the parent companies) and its subsidiaries.

• Captive insurance company is a subsidiary formed to insure the risks of its parent and affiliates, and when owned by a single parent is typically referred to as a pure captive.

• Captive insurance company statutes generally apply to companies that insure on a direct basis only the risks of companies related by ownership to the insurer.

• As part of its risk management strategy for 2020, TDB is in the process of setting up a Captive insurance company with the objectives of minimizing insurance costs and optimize risk management.

More Definitions of Captive insurance company

Captive insurance company means a Wholly Owned Subsidiary of the Borrower created solely for providing self-insurance for the Borrower and its Subsidiaries and engaging in no other activities other than activities ancillary thereto and necessary for the maintenance of corporate existence.

Captive insurance company means a pure captive insurance

Captive insurance company means any Subsidiary of the Borrower that is organized and subject to regulation as an insurance company, or the principal purpose of which is to procure insurance for the benefit of the Borrower and/or its Restricted Subsidiaries.

Captive insurance company means the same as that term is defined in Section 31A-1-301.

Captive insurance company means each Subsidiary of the Borrower formed from time to time that engages primarily in the business of insuring risks of the Borrower and its Subsidiaries.

Captive insurance company means any of the following formed or holding a certificate of authority under this chapter:

Captive insurance company means any captive insurance company for the Group (or any part thereof, which includes the Bank Group).