Business and Personal Finance Dictionary

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• SELF-INSURER
  
  A company or organization which chooses not to buy insurance for certain risks but provides for losses either by absorbing them as they occur or by establishing a fund from which they can be paid. Self-insurance is usually undertaken as a cost-saving device where the risks are well diversified. FHA and VA are self-insurers with respect to fire and similar hazards on properties they own.
  
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