self-insurance

noun self-in·sur·ance \ ˌself-in-ˈshu̇r-ən(t)s , -ˈshər- , -ˈin-ˌshu̇r- , -ˈin-ˌshər- \

Definition of self-insurance

: insurance of oneself or of one's own interests by the setting aside of money at regular intervals to provide a fund to cover possible losses

First Known Use of self-insurance

1829

in the meaning defined above

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Law Dictionary

self-insurance

noun self-in·sur·ance \ ˌself-in-ˈshu̇r-əns, -ˈin-ˌshu̇r- \

legal Definition of self-insurance

: insurance of oneself, one's interests, or one's components (as of a governmental unit) through the use of a fund that one maintains to cover losses

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