What does Self-Insurer mean? Read on to discover the definition & meaning of the term Self-Insurer - to help you better understand the language used in insurance policies.
A self-insurer is a business entity that takes care of its employees' future insurance needs instead of passing those needs on to an insurance company. It does this by setting aside money from its own income or investments specifically for this purpose.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Self-Insurer. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: