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.
self-insured retention (SIR) A dollar amount specified in a liability insurance policy that must be paid by the insured before the insurance policy will respond to a loss. Thus, under a policy written with a SIR provision, the insured (rather than the insurer) would pay defense and/or indemnity costs associated with a claim until the SIR limit was reached.