Glossary
Captive agents are employees of the insurer who work exclusively for that insurer.
Read MoreA captive facility is an insurance or reinsurance company, licensed under either commercial or captive insurance laws, used to provide captive insurance to insureds that may share in the facility's ownership or have no ownership position.
Read MoreThe Captive Insurance Companies Association (CICA) is an association of risk managers formed to educate, inform, support, and provide valuable networking opportunities to members and interested parties about captives, regardless of domicile or structure.
Read MoreA captive management company is a firm specializing in accounting and other services for captive insurance companies, usually serving as the captive's principal representative in the domicile.
Read MoreCaptive 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.
Read MoreA 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.
Read MoreCare, 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.
Read MoreCargo insurance is inland or ocean marine insurance covering property in transit.
Read MoreThe 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.
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