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self-insurance

American  
[self-in-shoor-uhns, self-] / ˈsɛlf ɪnˈʃʊər əns, ˌsɛlf- /

noun

  1. 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 British  

noun

  1. 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

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Etymology

Origin of self-insurance

First recorded in 1895–1900

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.