Mutual Insurance Company
/ˈmjuːtʃuəl ɪnˈʃʊərəns ˈkʌmpəni/
Definitions
- (n.) An insurance company owned by its policyholders, operating for their mutual benefit rather than for profit.
The mutual insurance company returned dividends to its members after a profitable year.
Forms
- mutual insurance company
- mutual insurance companies
Related terms
See also
Commentary
Use precise language to distinguish mutual insurance companies from stock companies; emphasize the policyholder ownership aspect in legal drafting.
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.