Captive insurance is a form of self-insurance where a company creates its own subsidiary to manage and insure its risks. Learn about its types, benefits, applications, and related terms.
Detailed definition and explanation of Self-Insured Retention (SIR), including its types, special considerations, examples, historical context, applicability, comparisons, related terms, FAQs, references, and summary.
An in-depth overview of the Assumption of Risk in risk management, including its definition, applications, types, and related concepts.
An in-depth look at Risk Retention, a self-insurance method where organizations create reserve funds to manage unexpected financial claims, its comparison with contingency funds, types, and applications.
Self-insurance involves protecting against loss by setting aside funds periodically to cover potential future losses. Often adopted to manage high-frequency, low-severity losses, it can be implemented on a mathematical basis to create a dedicated self-insurance fund.
