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image: FALKO MATTE / DREAMSTIME

Self Insurance: What it Is and How it Works

July 5, 2017

Self insurance (also known as self funding) allows small business owners to create and manage their own insurance plans, without being subjected to the restrictions and costs of working with a larger traditional insurance carriers. However, self insurance does come with a high level of risk and liability.

We want to preface this article by stating that self insurance is generally NOT the best choice for small business owners. It can be a huge administrative burden, and there are both legal and financial risks to self funding your insurance.

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