| 释义 |
Mutual insurance company
| one which does a business of insurance on the mutual principle, the policy holders sharing losses and profits pro rata. |
See also: Mutual Mutual Insurance Company
Mutual Insurance CompanyAn insurance company owned by its own policyholders. That is, policyholders elect the board of directors, and profits, if any, are distributed to policyholders each year in proportion to their individual exposures to the company. Many insurance companies are structured in this way. |