Self-insurance is usually impractical for very small businesses.

Name: Self-insurance is usually impractical for very small businesses.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Self-insurance involves taking on the financial risk of an insurance claim rather than paying premiums to an insurance company. This can be costly for very small businesses that may not have the resources to handle a large claim. As a result, self-insurance is typically more feasible for larger businesses with more financial stability.

Self-Insurance Is Usually Impractical for Very Small Businesses