self-insured
UK[ˌself ɪnˈʃʊəd]US[ˌself ɪnˈʃʊrd]
adj
Describing an individual or organization that chooses to bear the financial risk of a loss, such as a medical expense or accident, themselves rather than purchasing insurance from a third-party company.
Morpheme Breakdown
self
insured
self
own
insured
covered by insurance
Etymology
The term is a modern compound, primarily from the 20th-century insurance industry. The first element, "self," is a deeply rooted Germanic word for one's own identity, establishing the concept of personal or internal responsibility. The second element, "insured," originates from the Latin securus (composed of se- 'without' and cura 'care'), which evolved through Old French into the English concept of financial protection against risk. When combined, the literal construction "self-insured" logically shifts the locus of that financial security and risk-bearing from an external company back onto the individual or entity itself, creating a precise term for a specific risk-management strategy.
Analysis
Structure: self (own) + insured (covered by insurance)
self: From Old English self, seolf, sylf, meaning "one's own person." It is a Germanic root, functioning as a noun or prefix denoting identity, sameness, or autonomy.
insured: From the past participle of insure. The root sure comes from Latin securus (free from care, safe), with the prefix in- meaning "into" a state of being. The -ed suffix forms a participial adjective.
Examples
Large corporations often become self-insured to have more control over their employee health plans.
As a self-insured individual, he had to pay the full cost of the car repair out of his emergency fund.
The state's self-insured program for workers' compensation requires a substantial financial reserve.