Alternative Risk Solutions
Self Insurance increasingly popular
The popularity of self insurance or Alternative Risk Transfer (ART) is increasing amongst businessmen and companies on a world wide scale, because of the unique benefits it provides to clients.
The beauty of ART lies in the simplicity of the concept.
In brief, it works as follows:
- A short term insurance company issues an ART-contract to the insured.
- An account is opened for the client into which all premiums are paid and from where all claims are settled.
- This experience account earns interest.
- Claims are limited to funds in the experience account plus additional insurance amounts that was arranged with the insurance company.
Click on the link below for more information.