Noninsurance is the thoughtful and intentional abstention from the use of insurance to cover an exposure to loss; risk identification was thorough, the uninsured risks are known, and insurance has been considered.
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Noninsurance is the thoughtful and intentional abstention from the use of insurance to cover an exposure to loss; risk identification was thorough, the uninsured risks are known, and insurance has been considered.
Additional Information
Uninsured losses are absorbed as a direct expense.
