Business Lines
Reiss introduced the captive to provide large corporations with insurance coverages they needed but could not obtain economically through the mainstream insurance market, thus reducing their costs. Captives can cover lines of business, such as workers' compensation, that have relatively predictable claim rates. They can access the reinsurance market to lay off risks that they do not wish to accept: this may include product liability, general and professional liability and directors' and officers' liability. Vehicle insurance, both property damage and third party liability of corporate fleets and vehicles, is also quite commonly covered.
Read more about this topic: Captive Insurance
Famous quotes containing the words business and/or lines:
“I have said many times, and it is literally true, that there is absolutely nothing that could keep me in business, if my job were simply business to me. The human problems which I deal with every day—concerning employees as well as customers—are the problems that fascinate me, that seem important to me.”
—Hortense Odlum (1892–?)
“I struck the board, and cried, ‘No more,
I will abroad!
What? shall I ever sigh and pine?
My lines and life are free, free as the road,
Loose as the wind, as large as store.
Shall I be still in suit?”
—George Herbert (1593–1633)