Companies seeking an alternative to traditional risk management approaches are increasingly turning to the captive insurance market, especially for recurring and foreseeable losses.
As most commonly understood, the captive operates as a private in-house insurer that is wholly owned by a parent company. The parent pays the captive premiums, just as it would to a conventional insurance company, and the captive assumes the risk for certain defined losses. This structure is known as the "single-parent captive."
Originally published in the Daily Journal on November 14, 2013.
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