Channeling

You know how people go to seances to channel spirits and receive messages from the beyond? This isn’t quite like that. It's a type of insurance.

It refers to the practice of an organization buying an umbrella policy for all of its employees and associates, rather than requiring each person to get their own insurance. Think: hospital. The hospital gets one malpractice policy for all the doctoring and nursing that goes on there. The individual doctors and nurses are covered under that policy and don't need individual coverage (at least when they are working at the hospital). That's channeling.