self-insurance plan

Definition of "self-insurance plan"
  1. A plan where an organization uses its own funds to cover any losses instead of buying insurance
How to use "self-insurance plan" in a sentence
  1. A large corporation decided on a self-insurance plan to manage risk.
  2. Many companies prefer a self-insurance plan to have more control over their funds.
  3. A self-insurance plan can lead to savings in the long term.
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