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What is a Self-Insured Retention (SIR)?

April 26, 2017retention self-insured sir

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What is a Self-Insured Retention (SIR)?

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The SIR is an amount negotiated by the employer and the excess insurance company. (The SIR is also sometimes referred to as the “specific retention.”) It acts as a deductible and is usually stated in increments of $50,000, i.e. $200,000, $250,000, $300,000, $350,000, etc.