- in the US and some other countries, if a company self-insures, it keeps money specially to pay for any accidents to employees, harm caused to others etc, instead of buying insurance from an insurance company:
• Many small employers are looking to self-insure.— self-insurance noun [uncountable] :
• Encouraging self-insurance would force companies to bear the actual costs of their health and safety practices.— self-insurer noun [countable] :
• More employers are becoming self-insurers for health care.
* * *self-insurance UK US noun [U] INSURANCE► a situation in which a person or company does not buy insurance against a particular risk: »
Insuring a £1,500 personal computer will cost you around £500. Saving that much in a self-insurance account would be better.
Financial and business terms. 2012.
Look at other dictionaries:
Self insurance — is a risk management method in which a calculated amount of money is set aside to compensate for the potential future loss. More colloquially, the term self insured is used as a euphemism for uninsured. [http://www.slate.com/id/2075714/] If self… … Wikipedia
self-insurance — [self′in shoor′əns] n. insurance of oneself or one s property by setting apart one s own funds rather than by paying for an insurance policy … English World dictionary
self–insurance — self–in·sur·ance /ˌself in shu̇r əns, in ˌshu̇r / n: insurance of oneself, one s interests, or one s components (as of a governmental unit) through the use of a fund that one maintains to cover losses Merriam Webster’s Dictionary of Law. Merriam… … Law dictionary
self-insurance — /self in shoor euhns, self /, n. insurance of one s property or interests against possible loss by the establishing of a special fund for the purpose instead of seeking coverage with an underwriter. [1895 1900] * * * … Universalium
self-insurance — /sɛlf ɪnˈʃɔrəns/ (say self in shawruhns) noun 1. the insuring of one s property, etc., through oneself, as by setting aside a fund for the purpose. 2. the amount by which the actual value of one s property exceeds the cover provided by an… … Australian English dictionary
self-insurance — self′ insur′ance n. bus insurance of one s property or interests by setting aside funds to cover possible loss • Etymology: 1895–1900 … From formal English to slang
self-insurance — /self ɪn ʃυərəns/ noun insuring against a probable future loss by putting money aside regularly, rather than by taking out an insurance policy … Dictionary of banking and finance
self-insurance — self confidence, self assurance … English contemporary dictionary
self-insurance — The practice of setting aside a fund to meet losses instead of insuring against such through insurance. A common practice of business is to self insure up to a certain amount, and then to cover any excess with insurance. Workers compensation… … Black's law dictionary
self-insurance — An employer engaging to make compensation payments directly to the injured employee in lieu of carrying insurance, he being required, as a condition of dispensing with an insurance carrier to furnish satisfactory proof of financial ability, file… … Ballentine's law dictionary