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WordNet-Online
Definitions from WordNet | ||||
Definitions from the WebSelf-InsuranceDefinition: Self-insurance refers to a method of risk management in which an individual or organization assumes the financial burden of potential losses rather than transferring it to an insurance company. Sense 1: As a noun, self-insurance refers to the act or practice of funding one's potential losses by setting aside a designated amount of money, rather than paying premiums to an insurance company. Sample Sentence 1 (Noun - Sense 1): Many large corporations opt for self-insurance to retain control over their financial risks and lower their overall insurance costs. Sense 2: As a noun, self-insurance can also refer to an entity that assumes the risks by providing coverage for its own potential losses, without involving conventional insurance companies. Sample Sentence 2 (Noun - Sense 2): The employer established a self-insurance plan to cover medical expenses of its employees, bypassing the need for a traditional health insurance policy. Sense 3: As a noun, self-insurance further denotes the financial reserves or funds set aside for covering potential losses or claims within a self-insurance program. Sample Sentence 3 (Noun - Sense 3): The organization's self-insurance fund successfully covered the costs of damage caused by the natural disaster. Sense 4: As an adjective, self-insurance describes the state of being self-insured, where an individual or entity takes on the responsibility of funding their potential losses without relying on insurance companies. Sample Sentence 4 (Adjective - Sense 4): The self-insurance model provides individuals with greater autonomy and flexibility in managing their own risks. Related Products on Amazon: Books on Self-Insurance, Financial Planning for Self-Insurance, Self-Insurance in Business | ||||
self-incrimination self-inductance self-induction self-indulgence self-indulgent self-inflicted self-inflicted loss self-injury self-insurance self-insure self-interest self-interested self-interests self-introduction self-involved self-judgment self-judgments
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