Captive Insurance is a type of insurance company that is owned and controlled by its insureds. The purpose of a captive insurance company is to provide insurance coverage to its parent company or affiliated companies. Here are some common types of captive insurance:

Single Parent Captive: This type of captive is owned by one parent company and provides coverage for that company and its subsidiaries.

Group Captive: This type of captive is owned by a group of companies that have a common interest. The group captive provides coverage for all of the member companies.

Rent-a-Captive: This type of captive is owned by a third party and is available for rent to other companies. The renting company becomes a member of the captive and can participate in the management and profits of the captive.

Protected Cell Captive: This type of captive is designed to segregate the assets and liabilities of different cells or "protected cells" within the captive. This allows for different companies to have their own separate insurance policies within the same captive.

Association Captive: This type of captive is created and owned by an association of companies that have a common interest. The association captive provides coverage for all of the member companies.

Special Purpose Captive: This type of captive is set up to provide coverage for specific risks that are not covered by traditional insurance companies.

Segregated Portfolio Captive: This type of captive is similar to the protected cell captive, but it creates separate legal entities for each portfolio, allowing for a higher degree of separation of assets and liabilities.

Captive insurance can provide many benefits such as cost savings, better coverage and claims handling and risk management. However, it's important to note that creating and maintaining a captive insurance company can be complex, and it's important to have a proper understanding of the structure and the regulations before starting one.