Business, Legal & Accounting Glossary
An insurance company owned entirely by the policy holder. The policy holder can be a parent company, its clients, subsidiaries, companies in the same industry or trade, and/or service group. If the company only insures the parent and its clients, it is called a pure captive. Like traditional insurance companies, these are established to insure assets or assure against losses from a contingent event.
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This glossary post was last updated: 20th November, 2021 | 0 Views.