Alternative Insurance Market Law and Legal Definition
Alternative Insurance Markets are mechanisms used to fund self-insurance. This includes captives, which are insurers owned by one or more non-insurers to provide owners with coverage. Risk-retention groups, formed by members of similar professions or businesses to obtain liability insurance, are also a form of self-insurance.
Alternative markets are available for many types of insurance risks faced by various types of businesses and certain types of industry. This typically includes the nursing home industry and contractors in the building industry. Industry groups such as these that are difficult or expensive to insure can become their own insurer to save money.
Legal Definition list
- Alternative Fuels Business
- Alternative Fuel
- Alternative Dispute Resolution Procedures (Family Law)
- Alternative Dispute Resolution Mediation Law
- Alternative Dispute Resolution Arbitration
- Alternative Insurance Market
- Alternative Means of Dispute Resolution
- Alternative Measures
- Alternative Medicine
- Alternative Medicine Practitioner
- Alternative Minimum Tax
Related Legal Terms
- Above the Market
- Accelerated Life Insurance Benefits
- Acceptable Quality Level [Agricultural Marketing Service]
- Acceptance [Agricultural Marketing Service]
- Accident Insurance
- Accidental Death and Dismemberment [Insurance]
- Accommodation Line [Insurance]
- Accountants Professional Liability Insurance
- Accounts Receivable Insurance
- Accrued Market Discount
