With such policies, the insured is essentially agreeing to self-insure and self-defend for smaller claims, and to tender only for liability claims that exceed a certain number.
Employers that self-insure may carry excess insurance for occurrences that generate unacceptably large losses for the employer.
At this point the insured could self-insure and discontinue the life insurance program.
We have no plans to make individuals self-insure.
In the event, the council did not purchase the policy, and decided to self-insure out of the contingency reserve.
How can a small company such as this self-insure?
Insurance institutions which did not offer contributors a 'fair bet' (an expected value of benefits proportional to contributions) would see those with low expected benefits turn to competitors or self-insure.
The magazine followed the revelations with advice to its readers on how to limit disclosure of health information by their doctors' offices, insurance companies, and employers who self-insure (22,628).
