(i) Either a “Direct Writer” or an Agent that has agreed to sell Insurance for only one Company or fleet. (ii) Either a sales representative of a Direct Writing Insurer or an outside Agent who has agreed to sell Insurance for only one Insurer.
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An agent who represents one insurance company exclusively.
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Captive agents, also known as exclusive agents or direct writers, are usually restricted to representing only one insurance company and are restricted contractually from selling insurance for another company. The best known of this type company is State Farm. Captive agents may be independent contractors, that is, self-employed, or they may be employees of the company they represent. (See Direct Writers).The goal of the captive agent is to develop business for his or her parent company. In exchange, the insurance company typically provides the captive agent with an office allowance to cover rent, utilities, and other office expenses. In addition, most captive agents are able to participate in the company’s retirement plan and receive life, health, and other benefits. Captive agents also receive periodic training from the parent company on new products and selling skills.The number of captive agents has been slowly declining as insurance companies look for ways to cut costs and streamline operations. Many companies that used captive agents have gone to a dual distribution system by adding independent agents. Another cost-saving move companies have employed is to go directly to the customer through advertising, inbound telemarketing, and the Internet. (See Agent).
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MEDICAL,USA: Individual who has agreed to sell insurance for only one company. Also called exclusive agent.

“A captive insurance company is one that is owned by its insureds. Often, it is closely held by a major corporation. The insured is active in the underwriting, management, and operations of the company.Captives may be used to provide all of the insurance of a parent company or may be used to perform certain specific functions. For example, a captive may be used to purchase “”deductible buyback.”” In this case, the captive insurance company funds some or all of the company’s deductible.Captives may also be owned by associations or groups. In this case, the captive is owned either by the members of the association or by the association itself. Generally, premiums paid to a captive owned by one entity are not tax deductible while premiums paid to a group or association captive are. Captives may be “”onshore”” (domiciled in a U.S. state or

territory) or “”offshore”” (domiciled outside of the U.S.).”
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A company formed exclusively to insure a parent company.
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US: A company owned solely or in large part by one or more non- insurance entities for the primary purpose of providing insurance coverage to the owner or owners.
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UK: a company whose business is wholly or mainly derived from a company or group of companies of which it is usually a subsidiary or associated company.
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UK: Company owned and operated by the corporation it insures. Usually registered and domiciled in tax havens, e.g. Bermuda, captives combine tax efficiency with the benefit of self-insurance and/or mutual insurance. Most captives have a presence in the reinsurance market (inward and outward) and some have become substantial writers of third party business. See PROTECTED CELL COMPANIES; RENT-A-CAPTIVE.
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MEDICAL,USA: Insurance company formed and controlled by a separate company, whose purpose is to insure the risks of its owner(s) such as hospitals, physicians, companies that extend credit to customers, banks, and retailers. Also called captive insurer.

An enterprise with all the authority to perform as an insurance company but organized by a parent company for the express purpose of providing the parent company’s insurance.
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Captives : Captives refer to specialized insurer or reinsurer created with the sole aim of providing cover to the promoters or affiliates. Most fortune 500 companies make use of captives, to some extent or more. Favorable tax treatment and benign regulatory regime have spurred the growth of captives in some of the regions in the world, for example, Caribbean and Europe. Captives may be acting as direct underwriter or a frontal operating as a reinsurer. Captives provide high degree of control to the promoters. In view of high administrative costs, innovations in the form of cell captives, rent a captive etc. allow cost sharing by several clients. Under these arrangements, assets of client are protected through legal separation of assets and liabilities of each underwriting account and that of the captive as a whole. The regulatory regime, especially in relation to admitted and non-admitted reinsures lead to complications in the arrangement with captives, such as collateral requirements. It may also necessitate maintaining arm’s length relationship with the captives in some regions. Association Captive : Captive Insurer having two or more parents, with the parents typically being members of an industry/trade/association. Pure Captive : Captive having only one parent and insuring the los exposures of that one parent.Capture and Seizure : In marine insurance capture includes every act of seizing or taking by an enemy or belligerent. Seizures goes beyond this to embrace every act of forcible possession either by a lawful authority or by overpowering force.
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In its pure form, an Insurer owned by a parent corporation which is also its only customer. One way of funding a retention program.Insurer Association or Group Captive : A captive Insurer owned by an association or group that insures only members of the association or group.Insurer, Direct Writer : An Insurer that markets its services through its own employees.Insurers, Group of : Two or more Insurers operating as a team under common ownership or management.Insurer, Independent : An Insurer that sets its own prices. An independent Insurer does not use the rates developed by a rating bureau.Insurer, Independent Agency : An Insurer that markets its services through independent Agents who may represent many Insurers.Insurer, Mutual : A cooperative Insurer owned by its Policyholders.Insurer, Participating : An Insurer whose Policyholders participate in the experience of the Insurer through dividends, assessments, or both.Insurer, Stock : A proprietary Insurer owned by stockholders who elect a board of Directors.I.S.O .: International Standard Organization also referred to as the International Organizational for Standardization.
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US: Insurance companies established and owned by a parent firm in order to insure its loss exposures while reducing premium costs, providing easier access to a re-insurer, and perhaps easing tax burdens. Cargo Insurance: Type of ocean marine insurance that protects the shipper of the goods against financial loss if the goods are damaged or lost.
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MEDICAL,USA,REFERENCE: See: captive insurance company.

The process of using an online app to allow other parties to borrow your vehicle and pay you for the use of that vehicle.