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

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self-insurance

noun

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

: 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