Common Contracts
1 similar Non-Recourse Agreement contracts
Protected Cell Companies – Non-Recourse Agreements for Captives & ReinsurersNon-Recourse Agreement • August 1st, 2020
Insurance Companies formed as (or converted to) Protected Cell Companies (PCCs) may establi sh “Cells” within their own corporate entity and write risk through those Cells with the assets and liabilities of each Cell completely segregated from the other Cells and the non -cellular part of the PCC (also known as the “Core”). At the same time the ad ministrative and regulatory costs can be shared among the various Cells and the Core, which makes Cells particularly attractive as an alternative for smaller corporate groups wishing to establish their own insurance vehicle, providing them with easier and more affordable access to the Captive Insurance market. Malta is the only full EU Member State that offers PCC legislation and is currently home to 3 PCCs (and 10 Cells between them) carrying on insurance business.
