A captive is a licensed insurance company fully owned and controlled by the insured parties – a type of “self-insurance.”
Captives are essentially an alternative for organizations to retain and finance cyber risk via actuarial-determined premiums to be paid from the parent company to the captive. They’re becoming more popular due to an increasingly tough cyber insurance market.
Many thanks to Captive Insurance Times and to the amazing Rebecca Delaney for featuring me alongside other industry professionals on discussing this important topic.
The feature can be found on pages 18-22, and is now available to read in the latest online issue at this link: https://bit.ly/3KMnX8j