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July 15, 2015

What is a captive insurance company?

A captive insurance company is a type of insurance company that is owned by the insured. It is formed and controlled by the insured in order to insure the risks of the insured’s business or personal activities. Captive insurance companies are typically used to insure risks that are either not insurable in the traditional insurance market or that can be insured at an affordable cost only through a captive insurance company. Captive insurance companies can be either single-parent or group captives, depending on the number of insureds that they insure. They can be organized as either a corporation, a partnership, or a trust, and they can be either domestic or offshore.

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