This is a can of ready-to-go dulce de leche, but Iâve always thought it was cool that you can pretty much make this yourself by simmering cans of sweetened condensed milk! Itâs nice if youâre stuck in Antarctica and need dulce de leche but canât find any in your local supermarket.
Using either simply to reduce premiums is foolish, and could prove to be very dangerous. A self-insured retention means that the insured carries a fixed amount of risk, including adjusting and legal expenses. The insurance policy, whether a primary or umbrella contract, is excess coverage above the SIR.
Insurance retention (IR) is the portion of an insurance claim not covered by the insurance company. It is that portion of any loss paid by the insured. A deductible is the most common example of insured retention although there are other types of retentions. An insurance deductible on a liability policy is the amount that must be paid or reimbursed by the insured for each claim paid by the insurance company. In the case of third party claims, insurance companies must pay any legitimate covered claim and seek reimbursement of the deductible from their insured.