self-insurance

noun
self-in·​sur·​ance | \ ˌself-in-ˈshu̇r-ən(t)s How to pronounce self-insurance (audio) , -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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The first known use of self-insurance was in 1829

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More Definitions for self-insurance

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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a sum of money that is sent as a payment

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