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Cab Cad Caf Cag Cah Cal Cam Can Cap Car Cas Cat Cau Cav

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.

Car groups

The 20 used by motor groups insurers for rating purposes; the higher the group number, the higher the premium. Groups reflect the cost of replacement parts, ease of carrying out repairs, purchase price, performance and level of security. Expensive high performance cars are in the highest group.

Car sharing

Where the passenger receiving a ‘lift’ pays the driver. The Road Traffic Act 1988, s.150, allows the car user to share the running costs with his passenger(s) without this being regarded as ‘hire or reward’ and therefore the subject of a policy exclusion. The vehicle must not be adapted for more than eight passengers and the contributions must not exceed running costs.

Care

Providing to an individual hospital accommodations, comfort, diagnosis, and treatment of a condition and implying responsibility for services, equipment, supplies, and rehabilitation.

Care and Wages for Maintenance

An admiralty law provision for coverage for injured seamen. Maintenance refers to providing food, shelter, and rehabilitation while the seaman is injured. Care refers to the medical treatment necessary for recovery. Wages, of course, refers to the usual seaman’s wages, which under this law, must be paid even during an illness or after an accident.