Self Insurance Programs
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Product Solutions |
Account Size $300,000 to Unlimited Self-insurance refers to an arrangement in which an organization consciously retains at least a portion of a specific, identified risk. The term “self-insurance” is somewhat of a misnomer because the insured does purchase catastrophic insurance coverages and often purchases claims and risk management services to help manage and run the program. Self-insurance may be implemented on behalf of a single organization or, in certain states, on behalf of a number of organizations. The motivation for becoming self-insured is usually driven by the desire to reduce costs. However, the most important benefit may be the overall control over claims administration and safety and loss control efforts gained by a self-insurer. Underwriters |