Captive Insurance Companies: Do They Provide "Insurance"? | Zendy

Stewart McCulloch | Zendy

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Captive Insurance Companies: Do They Provide "Insurance"?

Author(s) -

Stewart McCulloch

Publication year - 1996

Publication title -

victoria university of wellington law review

Language(s) - English

Resource type - Journals

eISSN - 1179-3082

pISSN - 1171-042X

DOI - 10.26686/vuwlr.v26i4.6142

Subject(s) - actuarial science , insurance policy , casualty insurance , key person insurance , general insurance , insurance law , group insurance , business , insurance fraud , liability insurance , income protection insurance , insurability , auto insurance risk selection

This article explores captive insurance companies and focuses on whether a true "insurance" relationship exists between captive insurer and its insured. After providing a general background to captives, the article briefly visits the legal definition of "insurance" and then considers the captive insurer/insured relationship to determine whether an "insurance" relationship exists. Finally, the article considers situations where the existence or absence of a true "insurance" relationship may be of significance.

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