Mutual Insurance Companies Definition
Search mutual insurance companies and thousands of other words in english definition and synonym dictionary from reverso.
Mutual insurance companies definition. In contrast a stock insurance company is owned by investors who have purchased company stock. A mutual insurance company is an insurance company owned entirely by its policyholders any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or reduced future premiums. Mutual insurance companies vs.
An insurance system in which the insured persons become company members each paying specified amounts into a common fund. Mutual insurance synonyms mutual insurance pronunciation mutual insurance translation english dictionary definition of mutual insurance. A mutual insurance company is an insurance company whose policyholders are also the owners.
Best company the global rating agency for the insurance industry has upgraded the financial strength rating to a superior from a excellent and the issuer credit ratings to aa from a of vermont mutual insurance company vermont mutual and its two fully reinsured subsidiaries northern security insurance company inc. Moreover as owners the policyholders are entitled to a share of the company s profits. A mutual company is a private enterprise that is owned by its customers or policyholders.
English dictionary definition of mutual insurance. Any profits generated by a stock. You can complete the definition of mutual insurance companies given by the english definition dictionary with other english dictionaries.
One which does a business of insurance on the mutual principle the policy holders sharing losses and profits pro rata. Mutual insurance companies synonyms mutual insurance companies pronunciation mutual insurance companies translation english dictionary definition of mutual insurance companies. Stock insurance companies with dividends surplus and policyholder value most of the old and solid mutual companies in the u s.
This structure exists solely to provide insurance protection to the policyholders who often have the right to elect management personnel. Wikipedia lexilogos oxford cambridge chambers harrap wordreference collins. Mutual insurance companies make investments in portfolios like a regular mutual fund with any profits returned to members as dividends or a reduction in premiums.
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