Originally Posted by
caspernz
The concept of self insurance is quite common in some big firms. Or should I say they adopt the stance that they'll insure on the basis of covering the first one or two million themselves, thus covering them for the big hits, then managing the risk of lower level events on their own dime.
Isn't this just the same as the insurance you or I would take out, just scaled up? The first one or two million that they take on themselves amounts to an insurance excess.
"Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety." - Benjamin Franklin (1706-90)
"I would rather be exposed to the inconveniences attending to much liberty than those attending too small a degree of it." - Thomas Jefferson (1743-1826)
"Motorcycling is not inherently dangerous. It is, however, EXTREMELY unforgiving of inattention, ignorance, incompetence and stupidity!" - Anonymous
"Live to Ride, Ride to Live"
Bookmarks