mutual insurance
Policyholders own company
A mutual insurance company is one owned by its policyholders.
In the U.S., their origin in the 19th century came from companies that insured farmers against losses from disasters such as drought, fire, and flood.
The mutual insurance company is now largely an American phenomenon.
Extent of inclusion
- premiumsPayments for insurance coverage
- claimsStatements of truth
- beneficiaryDesignated asset receiver
- underwritingRisk evaluation and acceptance
indemnity · liability · deductible · reimbursement · policyholder · compensation · actuary · risk
Residential area nearby
- localOf this area
- grassrootsCommon people as political base
- fellowshipMutual goodwill among companions
- guildProfessional mutual-aid society
fraternity · congregation · association · club · network · agricultural · credit union · cooperative bank
Those owning insurance contracts
- membersPeople in an organization
- collectiveJointly organized group
- poolingMerging shared contributions
- sharedHeld in common
risk-sharing · partnership · alliance · solidarity · collaboration · joint · federation · consortium
coverage
Extent of inclusion
- premiumsPayments for insurance coverage
- claimsStatements of truth
- beneficiaryDesignated asset receiver
underwriting · indemnity · liability · deductible · reimbursement · policyholder · compensation · actuary · risk · solvency
neighborhood
Residential area nearby
- localOf this area
- grassrootsCommon people as political base
- fellowshipMutual goodwill among companions
guild · fraternity · congregation · association · club · network · agricultural · credit union · cooperative bank · building society
policyholders
Those owning insurance contracts
- membersPeople in an organization
- collectiveJointly organized group
- poolingMerging shared contributions
shared · risk-sharing · partnership · alliance · solidarity · collaboration · joint · federation · consortium · syndicate
- insurancecoverage, underwriting, premium, claims, policyholder
- cooperative financeco-op, cooperative, credit union, credit unions, cooperative bank
- bankingbank, banks, ATM, ATMs, account
- nonprofitscharity shop, charity organizations, nonprofit, nonprofits, charities
- cooperativesco-op, credit union, worker co-op, housing co-op, co-ops
- farm insurancecrop loss, farm buildings