Warning

Info

LSDefine

Simple English definitions for legal terms

captive insurance company

Read a random definition: criminative

A quick definition of captive insurance company:

A captive insurance company is a type of insurance company that insures the liabilities of its owner. This means that the owner of the company is also the only customer and shareholder. It is also known as a captive insurer. The purpose of a captive insurance company is to provide insurance coverage for the risks of its owner, rather than selling insurance policies to the general public.

A more thorough explanation:

A captive insurance company is a type of insurance company that insures the liabilities of its owner. The owner is usually the only customer and sole shareholder of the company. This means that the company is created to provide insurance coverage for its owner's risks.

  • ABC Corporation creates a captive insurance company to insure its own risks, such as product liability and property damage. The captive insurance company is owned by ABC Corporation and provides insurance coverage exclusively for ABC Corporation.
  • XYZ Corporation sets up a captive insurance company to insure the risks of its subsidiaries. The captive insurance company is owned by XYZ Corporation and provides insurance coverage only for its subsidiaries.

These examples illustrate how a captive insurance company is created to provide insurance coverage for a specific entity or group of entities. The captive insurance company is owned and controlled by the insured, which allows for greater control over the insurance coverage and potentially lower costs.

captive insurance | captive insurer

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
Hi! I’m a rising 3L at GULC who transferred and is in big law now. Does anyone have any questions lol
22:53
can you put a good word in for me with adcommns?
@georgiapeach88: Where did you transfer from? And why did you transfer?
Oh, I see from your profile: Maryland. Still, why did you transfer?
[] ararara
23:38
Caught the most epic sunset haha I was so high up my ears still haven’t popped
[] ararara
23:38
@georgiapeach88: I actually remember you from some of the first times I was on this site
Just out of curiosity: Do we think it's fair to say that the percentage of users of those site who continue to use it after their 1L starts, for those users who actually went or go to law school, is <1%?
manifestmoreadmissions
11:44
@georgiapeach88: not sure if you're still there but im also curious bout why you transferred, especially since your application says you were eventually admitted to GULC off the waitlist?
BelligerentMagicalWarthog
13:35
do we think GULC is done
KnowledgeableRitzyWasp
17:45
@BelligerentMagicalWarthog: last year they were accepting people off the waitlist from mid june up to a few days before classes start. so just off that and vibes I don't think they're done
Hi Guys
23:06
gulc said they'll get back to me by the week of june 17th
23:06
i hope they give me the a or r. i just want an answer 😭😭
has anyone on GW waitlist heard anything?
KnowledgeableRitzyWasp
23:55
@menherachan: praying for your WL A
0:13
@menherachan: i hope they give u that A as well
tysm! i hope so too lol
Hello everyone. Is it easy to miss important information about your admissions results if you don’t add your law school admission office to your Gmail contact? Did you find any important email from law school in your junk mail?
finna make yo hard times look pretty 😪
i watch my grandpa say penis
hys students when they see the above the law rankings 😪
@BelligerentMagicalWarthog: anecdote but a friend of mine got off the gulc waitlist in July last year
Write a poem rizzing up the admission staff
@Zenaida-Macroura: I got a waitlist on Saturday
Should I email HLS and ask if WL students get merch. They asked for my address for a surprise gift but I haven’t gotten anything
Zenaida-Macroura
8:58
@dusttodiamonds: OMG???
Zenaida-Macroura
8:58
More things to worry about over the weekend nice....
[] ararara
9:15
@Zenaida-Macroura: there’s no reason to worry ☮️ ❤️ but I/we get it! For me I’m super worried about not having any money coming in for a while plus no sugar mommy/daddy (yet!) to take care of me!
[] ararara
9:16
I always think back to when I was anxious waiting for my lsat results one take. I went to the park and a parent let me play with their kid. I fixed his truck and he was hyped! He told me to “have a good time!” when I left haha. He’s our spirit animal!
LSD+ is ad-free, with DMs, discounts, case briefs & more.