- mutual insurance
- Finan insurance company that is owned by its policy holders who share the profits and cover claims with their pooled premiums
The ultimate business dictionary. 2015.
mutual insurance
Look at other dictionaries:
Mutual insurance — Mutual Mu tu*al, a. [F. mutuel, L. mutuus, orig., exchanged, borrowed, lent; akin to mutare to change. See {Mutable}.] 1. Reciprocally acting or related; reciprocally receiving and giving; reciprocally given and received; reciprocal;… … The Collaborative International Dictionary of English
mutual insurance — Insurance under the policies of a mutual insurance company, that is, one operating on a mutual basis rather than for the purpose of profits benefiting stockholders. See mutual insurance company; reciprocal insurance … Ballentine's law dictionary
Mutual insurance — A mutual insurance company is an insurance company which has no shareholders but instead is owned entirely by its policyholders. The primary form of financial business set up as a mutual company in the United States has been mutual insurance.… … Wikipedia
Mutual insurance company — Mutual Mu tu*al, a. [F. mutuel, L. mutuus, orig., exchanged, borrowed, lent; akin to mutare to change. See {Mutable}.] 1. Reciprocally acting or related; reciprocally receiving and giving; reciprocally given and received; reciprocal;… … The Collaborative International Dictionary of English
mutual insurance company — ➔ company * * * mutual insurance company UK US noun [C] (also mutual insurer) FINANCE, INSURANCE ► an insurance company owned by its members who make regular payments into a fund that will pay their costs if they have a loss, accident, etc. :… … Financial and business terms
mutual insurance company — n. An insurance company owned by the people it insures, who share in the company’s profits. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 … Law dictionary
mutual insurance — insurance in which those insured become members of a company who reciprocally engage, by payment of certain amounts into a common fund, to indemnify one another against loss. * * * … Universalium
mutual insurance — insurance in which those insured become members of a company who reciprocally engage, by payment of certain amounts into a common fund, to indemnify one another against loss … Useful english dictionary
mutual insurance — /mjutʃuəl ɪnˈʃɔrəns/ (say myoohchoohuhl in shawruhns) noun insurance in which those insured become members of a company who reciprocally engage, by payment of certain amounts into a common fund, to indemnify one another against loss …
mutual insurance company — A cooperative enterprise wherein the members constitute both insurer and insured, where the members all contribute, by a system of premiums or assessments, to the creation of a fund from which all losses and liabilities are paid, and wherein the… … Ballentine's law dictionary
mutual insurance company — /ˌmju:tʃuəl ɪn ʃυərəns ˌkʌmp(ə)ni/ noun a company which belongs to insurance policy holders. Also called mutual company … Dictionary of banking and finance
