Captive insurer. ’ means an insurer that only insures first party risks;
Captive insurer means any pure captive insurer or any association captive insurer.
Captive insurer means an insurer whose licence is restricted to the carrying on of insurance business which consists principally of risks of its related corporations;
Examples of Captive insurer in a sentence
Carriers without a Best’s rating shall meet comparable standards in another rating service acceptable to ACTA except for Professional Liability/Errors and Omissions insurances that are currently underwritten by the Consultant’s Captive Insurer, which has not been rated by A.M. Best Company or other National Recognized Rating Organization (NRRO).
More Definitions of Captive insurer
Captive insurer means an insurer licensed under the captive insurance laws or regulations of any state.
Captive insurer means an insurance company the purpose of which is to provide insurance cover exclusively to the risks of the undertaking or under- takings to which it belongs or of an undertaking or undertakings of the group of which the captive insurance undertaking makes part;
Captive insurer means any Restricted Subsidiary of the Par Borrower that is a captive insurance company established for the primary purpose of insuring any Loan Parties and their Restricted Subsidiaries and that is or will be subject to regulation as an insurance subsidiary.
Captive insurer means an insurance or reinsurance company wholly owned by a parent company which only cover risks associated with the group to which it belongs and no third party risks;
Captive insurer means an entity whose main business includes insuring or reinsuring risks arising from any of its Affiliates.
Captive insurer means any of the following that is formed or holds a certificate of authority issued under ORS 735.150 to 735.190:
Captive insurer shall have the meaning as set forth in Section 5.1.3.