self insured retention (SIR)


The fraction of a risk that the insured assumes him or herself. This fraction may be the deductible, it may be the uninsured portion, or it may be self-insured.

Use this term in a sentence

You may want to try and take on some self insured retention so that you know you have your self covered.

​ Was this Helpful? YES  NO 2 people found this helpful.

There was some self insured retention and I knew there would be at least a little risk for us in the future.

​ Was this Helpful? YES  NO 10 people found this helpful.

Under his insurance policy the Self Insured Retention contract is confirmation payment must be made before the insurance company will pay.

​ Was this Helpful? YES  NO 4 people found this helpful.

Show more usage examples...

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
self insurance self managed REIT