Glossary

Captive value added (CVA) refers to the financial benefit to an organization resulting from participation in a captive program as a shareholder and/or an insured.

A care coordination benefit is a provision included in some long-term care (LTC) insurance policies that pays consultation fees for a professional, such as a registered nurse or a medical social worker, to periodically assess and make recommendations about the enrollee's care program.

Care, custody, or control (CCC) is an exclusion common to several forms of liability insurance, which eliminates coverage with respect to damage to property in the insured's care, custody, or control.

Cargo insurance is inland or ocean marine insurance covering property in transit.

The Carmack amendment is an amendment to the Interstate Commerce Act that provides that a common carrier that receives property for transport to another state or territory, the District of Columbia, or an adjacent foreign country shall be liable for any loss, damage, or injury it causes to its cargo.

The Carriage of Goods by Sea Act (COGSA) is a statute that contains a list of 17 causes of loss for which the carrier or vessel is not liable if the carrier exercised reasonable steps to make the ship seaworthy and to handle/stow goods responsibly.

A carrier is an insurance or reinsurance company that insures or "carries" the insurance or reinsurance.

A carryover provision is a multiyear rating device found in some reinsurance agreements that provides that a loss to reinsurers in a given time period may be applied to the results of a previous period (loss carryback) or may be applied to a future period (loss carryforward).

Car sharing typically consists of short-term car rentals activated by an online or mobile device available exclusively to members.

Case law is law that is based on judicial decisions within a particular jurisdiction rather than based on statutes or regulations.