self-insurance
The practice of choosing to bear a risk oneself rather than taking out insurance with…The practice of choosing to bear a risk oneself rather than taking out insurance with a third party (an insurance company).
Meaning
1 senses(uncountable)The practice of choosing to bear a risk oneself rather than taking out insurance with a third party (an insurance company).
More definitions
- insuring yourself by setting aside money to cover possible losses rather than by purchasing an insurance policy
Word family
2 related wordsLessons for this word
1 lessons- A1Countable and uncountable nouns — Because it can be uncountable