Forming a captive insurance company is a great way for a corporation to reduce costs, customize its coverage, and have more control over its insurance. However, not all captive structures operate the same way.
A captive feasibility study is a critical early step in forming a captive insurance company, but its value goes far beyond initial approval. When fully leveraged, feasibility studies are strategic tools that can shape how …
First-party cyber coverage is the portion of a cyber insurance policy that protects your business when you suffer direct losses from a cyber incident. It reimburses your organization for its own costs—such as data restoration, incident response, …
‘First-party insurance’ refers to a type of insurance designed to cover a business’s own direct losses from events like fire, theft, or cyberattacks. When a covered peril strikes, this …
A fronting agreement is an arrangement in which a licensed, admitted insurer issues and administers an insurance policy on behalf of a captive insurer.
A captive insurance company is an insurance company established by a business for the purpose of insuring that business’ risks. Unlike a traditional commercial insurance company that will issue …
Cyber liability coverage refers to the third-party coverage component on a cyber insurance policy. Unlike many other types of insurance, a cyber insurance policy includes both first- and third-party insuring clauses.
‘Third-party insurance’ refers to insurance designed to cover loss incurred by the insured party as a result of their legal liability to a third party.
An insurance binder is a legal document that provides temporary proof of coverage when the final insurance policy documents have not yet been issued.
Media liability insurance protects an organization against loss from claims arising from the content it creates, publishes, or distributes, both online and off.
