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self-insurance
[ self-in-shoor-uhns, self- ]
noun
- insurance of one's property or interests against possible loss by the establishing of a special fund for the purpose instead of seeking coverage with an underwriter.
self-insurance
noun
- the practice of insuring oneself or one's property by accumulating a reserve out of one's income or funds rather than by purchase of an insurance policy
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Word History and Origins
Origin of self-insurance1
First recorded in 1895–1900
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Example Sentences
No; that is, I have recently adopted a scheme of mutual self-insurance, and the loss falls pro rata on my other vessels.
From Project Gutenberg
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