Results for tag: "Captive Insurance"

Captive insurance is a form of self-insurance in which a parent company or group of companies creates an insurance company to insure the risks of the parent company or group. Captive insurance companies are typically formed to insure risks that are not adequately covered by the traditional insurance market, or to reduce the cost of insurance by avoiding the costs associated with the traditional insurance market. Captive insurance companies are typically owned and controlled by the parent company or group, and are subject to the same regulations as any other insurance company. Captive insurance companies can provide a variety of insurance products, including property and casualty, workers' compensation, professional liability, and other specialty lines. Captive insurance companies can also provide reinsurance, which is insurance purchased by an insurance company to protect itself from large losses. Some companies in the captive insurance market include Aon, Marsh, Willis Towers Watson, and Gallagher. Show Less Read more