Mutual Insurance
/ˈmjuːtʃuəl ɪnˈʃʊərəns/
Definitions
- (n.) A form of insurance owned by its policyholders, who share in profits and losses.
The cooperative operates as a mutual insurance, distributing dividends to its members.
Forms
- mutual insurance
- mutual insurances
Related terms
See also
Commentary
Mutual insurance emphasizes policyholder ownership and profit-sharing, distinct from stock insurers; drafting should clarify the nature of ownership and risk distribution.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.