self-insurance
Funding own risks
Self-insurance is the practice of setting aside funds to cover potential losses rather than purchasing insurance from a company.
Large organizations often self-insure for routine risks like employee health claims or minor property damage: The university is self-insured for workers' compensation.
The approach trades predictable reserves for unpredictable premiums.
Out-of-pocket threshold amount
Condition of body, mind
- autoSelf, in compounds
- propertySomething owned or inherent
- liabilityLegal or financial obligation
- dentalRelating to teeth
vision · disability · unemployment · fleet
Adhering to requirements
- reportingConveying documented information
- auditingExamining records for accuracy
- record-keepingMaintaining organized documentation
deductible
Out-of-pocket threshold amount
health
Condition of body, mind
dental · vision · disability · unemployment · fleet
compliance
Adhering to requirements
- reportingConveying documented information
- auditingExamining records for accuracy
- record-keepingMaintaining organized documentation
escrow
Conditional third-party deposit
- risk managementrisk sharing, risk analysis, risk factor, risk mitigation, risk appetite
- workers' compworkers' comp, injured worker, injury claim, workplace accident, disability benefits
- reservesreserve, reserves, bank reserves, cash reserves, fuel reserve
- insurancecoverage, underwriting, premium, claims, policyholder
- financial contractsfutures contract, forward contract, derivative, annuity, loan agreement
- liability clausesliability waiver, hold harmless, indemnification, indemnity, limitation
self-insurancegroup insurance
Shared risk coverage pool
public insurance · social insurance · Medicare · Medicaid · national health insurance
self, surely, security, ensure, insure, insurance, assurance, assure, ensured