MLchartDataset catalogue

Front company

Term · Insurance and risk management · MLC-T-INS-001599

An insurer licensed in the relevant jurisdiction that writes a policy in its own name and then passes most or all of the risk to another insurer, often a captive, through reinsurance. The captive's insured gets a policy issued by an admitted, rated carrier, which satisfies statutory coverage rules or contract insurance requirements. The front company keeps a fee and bears the credit risk that the reinsurer fails to pay.

Table 1. Record
IdentifierMLC-T-INS-001599
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001599",
  "term": "Front company",
  "field": "Insurance and risk management",
  "definition": "An insurer licensed in the relevant jurisdiction that writes a policy in its own name and then passes most or all of the risk to another insurer, often a captive, through reinsurance. The captive's insured gets a policy issued by an admitted, rated carrier, which satisfies statutory coverage rules or contract insurance requirements. The front company keeps a fee and bears the credit risk that the reinsurer fails to pay.",
  "url": "https://mlchart.com/terminology/insurance/front-company/"
}

Record 1,485 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.