Glossary
- Excess Insurer
- An insurer or reinsurer who provides specific and/or aggregate protection excess of a self-insured retention.
- Group Captive
- A captive that is owned by a number of different parent companies, normally from the same industry.
- HMO
- An independent health care organization which is made up of health care providers and affiliated health care institutions that together provide a comprehensive range of services direct to their members in return for a monthly fee.
- Losses Occurring
- Reinsurance that covers losses that physically occur during the contract period.
- Managed Care
- A term commonly used to describe healthcare arrangements where the cost of delivery is agreed in advance of claims, either on discounted fee for service basis or on an annual capitated fee per person regardless of whether that person suffers a claim.
- MEWA
- Multiple Employer Welfare Organisation. An association of small employers which form for the purpose of purchasing healthcare for their members.
- PPO
- See "Preferred Provider Organisation"
- Preferred Provider Organisation (PPO)
- A healthcare delivery network where insurance providers contract with the PPO at various pre-determined reimbursement levels in return for steering patients into their practices and prompt payment.
- Protected Cell Captive
- A form of Rent-a-Captive where the assets of each user are protected from other users by law. Protected Cell Captives are sometimes referred to as Segregated Cell Captives.
- Pure Captive
- A captive that is formed for the purpose of only insuring risks of its parent as opposed to others. Pure captives are sometimes referred to as Single Parent Captives.
