The practice of choosing to bear a risk oneself rather than taking out insurance with a third party (an insurance company).
Used in a Sentence
self-insurance
Definition, parts of speech, synonyms, and sentence examples for self-insurance.
Editorial note
This means a small company can be a risky place to set up a self-insurance scheme on which the employees depend.
Examples18
Definitions1
Parts of speech1
Quick take
The practice of choosing to bear a risk oneself rather than taking out insurance with a third party (an insurance company).
Meaning at a glance
The clearest senses and uses of self-insurance gathered in one view.
Definitions
Core meanings and parts of speech for self-insurance.
noun
The practice of choosing to bear a risk oneself rather than taking out insurance with a third party (an insurance company).
Example sentences
This means a small company can be a risky place to set up a self-insurance scheme on which the employees depend.
No, the point is he has $600K+ in the bank as self-insurance.
The problem with a self-insurance plan re-insuring is that it undermines the very reason for the self-insurance -- it erodes the advantage of local investment of the set-asides.
However, Medicare doesn't risk financial catastrophe significantly more than Humana or Kaiser or even Google's self-insurance pool.
The self-insurance bet is that he won't have to do that more than once every ten years on average.
With per mile pricing, companies can simply bake their self-insurance into the price, so safer systems have lower prices.
In self-insurance, the set-aside funds go into an investment pool that benefits you (or your company).
A 1099 contractor has to cut some 30%-40% off their wage to support things like self-insurance, etc (or add yea much).
The advantage of self-insurance is diminished, and the advantage of conventional insurance is diminished also.
The drawback to self-insurance are outlier claims that can more than wipe out the set-aside (as in the case under discussion).
Medical self-insurance goes up a lot: The costs went up double-digits-percent every year when I was a contractor.
It's a vastly inefficient form of self-insurance driven by the lack of welfare.
Quote examples
Yeah, but they have a special program for Taxi's that allow what they call "self-insurance" where the taxi is insured by a bond or letter of credit with the MVA.
If you ship a lot of high value items, just save some of your profits for such a rare eventuality (also called "self-insurance").
Not "strictly worse", because if one cares about maximizing profits for the company and wages for the employees, the self-insurance route might be better overall.
Proper noun examples
Self-insurance is simply a terrible option for most consumers, so no one does it.
Self-insurance is the final catastrophic plan and the numbers keep looking better every day.
Self-insurance seems like a reasonable compromise to what I'm talking about.
Frequently asked questions
Short answers drawn from the clearest meanings and examples for this word.
How do you use self-insurance in a sentence?
This means a small company can be a risky place to set up a self-insurance scheme on which the employees depend.
What does self-insurance mean?
The practice of choosing to bear a risk oneself rather than taking out insurance with a third party (an insurance company).
What part of speech is self-insurance?
self-insurance is commonly used as noun.