Resolving differences with out litigation.Īssociation Captive Insurance Company – A captive insurance company established by members of an association to underwrite their own collective risks. A company is “admitted” when it has been licensed and accepted by appropriate insurance governmental authorities of a state or country.Īrbitration Clause – A clause within a reinsurance agreement providing that if the ceding company and the reinsurer fail to agree, then they select neutral arbitrators with the authority to bind both parties to a solution. Glossary of Captive Insurance & Risk Retention TermsĪ – B – C – E – F – I – L – N – O – P – Q – R – S – T – U – W – X – Y – Z AĪdmitted Reinsurance – Reinsurance provided by a reinsurer licensed or authorized in the jurisdiction in question.
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