Association captive

{
  "id": "MLC-T-INS-000469",
  "term": "Association captive",
  "field": "Insurance and risk management",
  "definition": "A captive insurance company owned by a trade or professional association, formed to provide insurance coverage to its members. This structure allows members to collectively self-insure against common risks, potentially reducing premium costs and gaining more control over policy terms. Membership in the association is a prerequisite for obtaining coverage.",
  "url": "https://mlchart.com/terminology/insurance/association-captive/"
}