n.
An insurance system in which the insured persons become company members, each paying specified amounts into a common fund from which members are entitled to indemnification in case of loss.
| Dictionary: mutual insurance |
An insurance system in which the insured persons become company members, each paying specified amounts into a common fund from which members are entitled to indemnification in case of loss.
| Wikipedia: Mutual insurance |
Mutual insurance is a type of insurance where those protected by the insurance (policyholders) also have certain "ownership" rights in the organization. These "ownership" rights typically consist of the ability to elect the management of the organization and to participate in a distribution of any net assets or surplus should the organization cease doing business. Historically, insurance began in the USA through a mutual (or cooperative) structure. Recently, some insurance companies have gone through demutualization and become public companies in an effort, among other things, to improve their ability to acquire capital.
The global trade association for the industry, the International Cooperative and Mutual Insurance Federation, claims 206 members in 72 countries, in turn representing 400 insurers.[1]
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Members of "Arbeitsgemeinschaft der Versicherungsvereine auf Gegenseitigkeit e.V"
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| Downstream Holding Company (insurance term) | |
| Mixed Agency (insurance term) | |
| Mutualization (insurance term) |
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![]() | Dictionary. The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2007. Published by Houghton Mifflin Company. All rights reserved. Read more | |
![]() | Wikipedia. This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Mutual insurance". Read more |
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