In a 'self-insured retention' (SIR) arrangement, how does the SIR differ from a standard deductible?
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A
With a deductible, the insured controls defense of claims below the retention amount
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B
With an SIR, the insured pays and manages claims up to the retention before the insurer's coverage attaches
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C
An SIR reduces the insurer's policy limit by the retention amount
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D
Deductibles only apply to property policies while SIRs only apply to liability