Captive insurance companies definition

Captive insurance companies means companies that are wholly owned subsidiaries controlled by the parent company and established to insure the parent company or its other subsidiaries.
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Captive insurance companies means companies that are wholly owned subsidiaries controlled by the
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Captive insurance companies. DMC Insurance Company, Ltd., a corporation CERCLA: defined in the definition of Environmental Laws. CIMA: defined in Section 3.29(a). Closing: defined in Section 10.1. Closing Date: the date upon which the Closing occurs. Closing Documents: the Warrant Certificate and all other instruments, agreements, certificates or other documents executed or delivered by any Party to another Party at Closing. COBRA: the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended. Code: the Internal Revenue Code of 1986, as amended. Commercially Reasonable Efforts: means efforts that are designed to enable a Party, directly or indirectly, to satisfy a condition to, or otherwise assist in the consummation of, the transactions provided for by this Agreement and that do not require the performing Party to expend any funds or assume liabilities other than expenditures and liabilities that are customary and reasonable in nature and amount in the context of the transaction. Contracts: all written or oral contracts, leases, licenses and agreements relating to the Assets or the operation of the Hospital Businesses to which Seller is a party or by which Seller or any of the Assets are bound, including agreements with payers, physicians and other providers, agreements with health maintenance organizations, independent practice associations, preferred provider organizations and other managed care plans and alternative delivery systems, joint venture and partnership agreements, guarantees of obligations of Joint Ventures and other Persons, management, employment, consultant, independent contractor, change in control, non- compete, retention and severance agreements, vendor agreements, real and personal property leases and schedules, maintenance agreements and schedules, agreements with municipalities and labor organizations, and bonds, mortgages and other loan agreements. Controlled Group: with respect to Seller, a group consisting of each trade or business (whether or not incorporated) which, together with Seller, would be deemed a “single employer” within the meaning of Section 4001(a)(14) of ERISA. Cost Reports: all cost and other reports filed pursuant to the requirements of the Government Payment Programs for payment or reimbursement of amounts due from them. CRNA: CRNAS of Michigan, a Michigan nonprofit corporation. Development Agreement: defined in Section 9.15.
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Examples of Captive insurance companies in a sentence

  • Captive insurance companies are not subject to the insurance regulatory charge levied in G.S. 58-6-25 or the retaliatory tax levied under G.S. 105-228.8.

  • England, I.E. Druker & R.M. Keenan, Captive insurance companies: a growing alternative method of risk financing, Journal of Payment Systems Law 2007, p.

  • Captive insurance companies taxed under G.S. 105- 228.4A are not subject to retaliatory tax.

  • Special Purpose Financial Captive insurance companies shall report in accordance with G.S. 58-10-625.…(d) The Commissioner may require any captive insurance company to file a report on its financial condition semiannually, quarterly, monthly, or any other frequency determined by the Commissioner.

  • Captive insurance companies are traditionally used by large corporations as a risk management strategy to insure their own risks.

  • Captive insurance companies are utilized by banking organizations to ‘‘self insure’’ or reinsure their own risks pursuant to incidental activities authority.

  • Captive insurance companies that submit incomplete filings or that do not make filings within the prescribed time frame are subject to penalties.

  • Captive insurance companies are not required to make installment payments of tax due.

  • Captive insurance companies are insurers owned by the insureds and organized for the main purpose of self-funding the owner’s risk.

  • Captive insurance companies are typically reinsured by other insurance companies.


More Definitions of Captive insurance companies

Captive insurance companies means Mohave Transportation Insurance Company, an Arizona corporation, and Red Rock Risk Retention Group Inc., an Arizona corporation, and their respective Subsidiaries.
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Related to Captive insurance companies

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

  • Branch captive insurance company means an alien captive insurance company licensed by the director to transact the business of insurance in this State through a business unit with a principal place of business in this State.

  • Pure captive insurance company means a company that

  • Sponsored captive insurance company means a captive insurance company:

  • Association captive insurance company means a company that insures risks of the member organizations of the association and their affiliated companies.

  • Insurance Companies means the companies with whom the Insurance Policies are held.

  • Captive Insurance Subsidiary means any Subsidiary of the Borrower that is subject to regulation as an insurance company (or any Subsidiary thereof).

  • Internationally active insurance group means an insurance holding company system that:

  • Title Insurance Company means the company that has or will issue the title policies with respect to a Leased Property, which company shall be reasonably acceptable to the Funding Parties.

  • Insurance Company The Transferee is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a state, U.S. territory or the District of Columbia.

  • Companies means Borrower and its Subsidiaries; and “Company” shall mean any one of them.

  • Insurance group means the persons that comprise an insurance holding company system.

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • Ocean marine insurance means insurance against loss of or damage to:

  • Regulated Insurance Company means any Subsidiary of the Borrower, whether now owned or hereafter acquired, that is authorized or admitted to carry on or transact Insurance Business in any jurisdiction and is regulated by any Applicable Insurance Regulatory Authority.

  • Insurance Advisor means Aon Risk Services and any replacement thereof appointed by the Required Secured Parties and, if no Event of Default shall then be occurring, after consultation with the Borrower.

  • Insurance holding company system means a group of two or more affiliated persons, at least one of whom is an insurer.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • long-term insurance business means long-term insurance business as defined in the Insurance Act, 1943 (Act 27 of 1943), and includes any business which is for the purposes of the said Act dealt with by the Registrar of Insurance as long-term insurance business and any business which in the opinion of the Minister is medical aid insurance business conducted on a non-cancellable basis;

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • Life insurance producer means any person licensed in this state as a resident or nonresident insurance producer who has received qualification or authority for life insurance coverage or a life line of coverage pursuant to chapter 522B.

  • financial group means a group that consists of a legal person or legal arrangement exercising control and coordinating functions over the rest of the group for the application of group supervision under the Core Principles, and its branches and subsidiaries that are financial institutions as defined in section 27A(6) of the MAS Act or the equivalent financial institutions outside Singapore;