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- Captive insurance
Alternative to self-insurance in which a parent group or groups create a licensed insurance company to provide coverage for itself
Captive insurance is an alternative to self-insurance in which a parent group or groups create a licensed insurance company to provide coverage for itself. The main purpose of doing so is to avoid using traditional commercial insurance companies, which have volatile pricing and may not meet the specific needs of the company. By creating their own insurance company, the parent company can reduce th... Wikipedia
