A "self-insured" company

Like you said, it allows the company to accept drivers that insurers won't touch. If there is an accident, though, the insurance company keeps the claim in check, self insureds often get hooked by the other side trying to keep things out of court, how do you get an adjuster to look at something when you are self insured? It probably works out OK though because some people will take a smaller settlement just to get cash. Most smaller self insureds simply have a very high deductible insurance policy; they do carry catastrophic liability coverage.

 

A company I'm familiar with is self-insured to 250,000. They carry insurance papers if needed but settle everything in house. They do demand a year of experience on paper but hire based on ability to drive, they recently hired a disgruntled Schneider driver with 4 months experience

On the other hand, they require outside carriers to carry insurance on trailers on trailer and cargo, if pulling one of theirs and cargo if pulling their own(refrigerated and bull racks). This is in addition to normal liability. I wouldn't want to pull much for them if I were an O/O.

 

Mack some times the company will put their buildings and other equipment on the line if they don't want to hold a large cash sum in reserve. I'm not sure how it would work but a bank could put a lien on the property in return for a statement of guaranty for insurance purposes.