Definitions for "Mutual Insurance Company"
An Insurance Company that operates to insure its policyholders and profit its policyholder owners by passing the savings of a lower operating overhead along to them. (Compare, Stock Insurance Company.)
A cooperative insurance company organized and owned by its insureds.
has no formal stockholders or capital stock. All participants share the losses and profits of the business.
Keywords:  met, holders, pool, premiums, claims
Members or policy holders share risks, premiums go into pool from which claims and expenses are met