self-insurance

[US]/[ˈself ɪnˈʃʊər(ə)ns]/
[UK]/[ˈself ɪnˈʃʊər(ə)ns]/
Frequency: Very High

Translation

n.The practice of retaining financial risk within a company rather than transferring it to an insurer.; A program where a company pays for its own losses, rather than purchasing insurance.; The amount of money a company sets aside to cover potential losses.
Word Forms

Phrases & Collocations

self-insurance program

self-insurance funds

self-insurance retention

offering self-insurance

establishing self-insurance

self-insurance costs

managing self-insurance

self-insurance policy

pursuing self-insurance

Example Sentences

many small businesses opt for self-insurance rather than purchasing traditional insurance.

self-insurance can be a cost-effective strategy for companies with predictable risks.

the company established a self-insurance fund to cover potential liabilities.

self-insurance requires careful risk assessment and management capabilities.

they decided to implement a self-insurance program to reduce overhead costs.

self-insurance is a viable option for organizations with stable financial performance.

the board approved the proposal to explore self-insurance as an alternative.

self-insurance allows for greater control over claims handling and costs.

a robust self-insurance program demands disciplined financial planning.

the company's self-insurance arrangement provides financial flexibility.

self-insurance is particularly attractive for organizations with large, predictable losses.

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