Self-Insurance: Between Advantages and Challenges — An Awareness Message from United Insurance Company
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Self-Insurance: Between Advantages and Challenges — An Awareness Message from United Insurance Company
As part of United Insurance Company's ongoing efforts to promote insurance awareness and enhance our clients’ understanding of their various options, this article sheds light on the concept of self-insurance — an option adopted by some government entities or large corporations by allocating a financial reserve to cover potential risks, instead of contracting with an insurance company. It may also serve as a complementary solution in cases where full insurance coverage is unavailable for certain levels of risk (such as retaining part of the claims, known as a deductible or retained loss).
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