Self-insured Excess Plan
Definition of "Self-insured excess plan"
Plan for excess layer (s) of insurance coverage over the primary coverage, for example, if a corporation buys $8 million as excess above a $2 million self insurance retention level. Excess coverage can be purchased from either a primary insurer or a re insurer. Before deciding on a self-insurance plan, the corporation should review its past loss experience according to pattern, timing, and types, as well as its current financial position.
Popular Insurance Terms
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