What Does Program Business Captive Mean?
What does Program Business Captive mean? Read on to discover the definition & meaning of the term Program Business Captive - to help you better understand the language used in insurance policies.
Program Business Captive
A captive that insures or reinsures a "program" that is, a group of homogeneous risks, none of which is individually underwritten. It may or may not be owned by the program business agency or producer.
We hope the you have a better understanding of the meaning of Program Business Captive.
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