GVHR » Topics » Self-Insured Retention

These excerpts taken from the GVHR 10-K filed Mar 16, 2009.

Self-Insured Retention

 

A specific amount the Insured retains as its obligation for a covered loss.  It is the Insured providing primary insurance over which the carrier provides excess coverage.  Unlike a Deductible, the Insurer is not obligated to pay the Insured’s SIR and then seek reimbursement form the Insured.  The insured is directly responsible to the claimant for the amount of the SIR.

 

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Self-Insured
Retention



 



A specific amount
the Insured retains as its obligation for a covered loss.  It is the Insured providing primary insurance
over which the carrier provides excess coverage.  Unlike a Deductible, the Insurer is not
obligated to pay the Insured’s SIR and then seek reimbursement form the
Insured.  The insured is directly
responsible to the claimant for the amount of the SIR.



 



52
















 



Self-Insured
Retention



 



A specific amount
the Insured retains as its obligation for a covered loss.  It is the Insured providing primary insurance
over which the carrier provides excess coverage.  Unlike a Deductible, the Insurer is not
obligated to pay the Insured’s SIR and then seek reimbursement form the
Insured.  The insured is directly
responsible to the claimant for the amount of the SIR.



 



52
















 



EXCERPTS ON THIS PAGE:

10-K (3 sections)
Mar 16, 2009
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