Self-insurance as a formula for risk management – a new perspective
Self-insurance as a formula for risk management – a new perspective

Summary/Abstract: The article sets together some formulas for risk management that are used to protect a company’s operations: mutual insurance, co-operatives, captive insurance, peer-to-peer, risk retention schemes as well as internal risk distribution.The aim of the article is to recognize how mutual companies and captives differ in risk manage- ment, especially what their stronger and weaker sides are in these regards. The analysis has been en- riched by the comparison of a captive and mutual insurance company vs. the formula of a joint stock insurance company.The results of these considerations present some possible reasons as to why and how, after the long period of demutualization that took place on many insurance markets worldwide, there has recently been a significant growth of self-insurance formulas, both mutual insurance and captive. Also, the Pol- ish market has been used as an example to portray the market changes during the last 15-year period.

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