Association Captive
Insurance company established by a trade group or other association to provide selected types of primary insurance and/or liability insurance for members of the association and access to reinsurance markets. For example, the American Newspaper Publishers Association has established an association captive to provide libel insurance for member newspapers, and the American Bankers Association sponsors a captive that provides directors and officers liability insurance for member banks.
Popular Insurance Terms
Type of guaranteed investment contract (GIC) under which a single payment is made into an account of an insurance company where it will remain for a stipulated number of years. Both the ...
Range of administrative and risk management services that can be purchased by an insured. Increasingly, insurance can be purchased unbundled so that policy-holders may pay for straight ...
Clause in a reinsurance policy that excludes the reinsurer's liability for losses occurring after a stipulated date. ...
Individual who retains title to property that is being transferred on a temporary basis to the care, custody, and/or control of another. ...
Combination property, liability, and business interruption policy. It is usually written to cover expenses of small and medium size businesses resulting from damage or destruction of ...
Addition to a basic insurance policy to further explain coverages, add or exclude perils and locations covered, and add or delete positions covered. For example, an endorsement to the ...
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Determination that investments by parents in their children's education through the purchase of Series EE Savings Bonds, which generate interest income, are tax-exempt if the proceeds are ...
Type of insurance that provides a single aggregate limit of coverage within the insurance policy terms, thereby limiting the insurance company's liability for a risk transferred to it. The ...
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