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 a person carrying on a category of captive insurance business specified in the Schedule;

Captive insurer means an insurance company that is owned by another organization and whose exclusive purpose is to insure risks of the parent organization and affiliated companies. In the case of groups and associations, "captive insurer" means an insurance organization that is owned by the insureds, and whose exclusive purpose is to insure risks of member organizations or group members and their affiliates. "Captive insurer" does not include a risk retention group licensed under Part 9 of Article 10 of this Chapter.

Captive insurer means an entity whose main business includes insuring or reinsuring risks arising from any of its Affiliates.