Sponsor

{
  "id": "MLC-T-INS-003144",
  "term": "Sponsor",
  "field": "Insurance and risk management",
  "definition": "An entity that establishes and funds an employee benefit plan, a retirement plan or a captive insurance company and carries legal responsibility for it. For a benefit plan the sponsor is usually the employer or union. For a sponsored captive, the sponsor is the insurer, broker or other organization that owns the captive and rents out its cells, while the insured businesses are its participants rather than its sponsors.",
  "url": "https://mlchart.com/terminology/insurance/sponsor/"
}