Can you set up a legally qualified self insurance?

[Kyle S.]

I am wondering if it is possible to set up a legal self insurance company for rental property insurance? I am not talking about just dropping coverage and taking the risk, and I am not talking about dropping insurance and putting monthly payments into a savings account. I am talking about a legal insurance company that would write a policy that a lender would accept. I have scale to an extent, maybe not enough for this, and I also have other landlords that may join me in something like this.