The Advantages of Single Company Self-Insurance

The Advantages of Single Company Self-Insurance

These can be summarized as follows:

1. Control over policy design
2. Freedom to select the Administrator and other Service Providers
3. Profits are retained
4. Decision-making and claims payments are quicker

The Disadvantages of Single Company Self-Insurance

These can be summarized as follows:

1. Higher Start-up Costs
2. Poor loss experience cannot be offset by the better experience of other parties
3. There is a greater requirement of management time