An insurance company which is owned by its policyowners, in which the overall net earnings and savings of the company are distributed to the policyowners in the form of dividends. Compare to Stock Insurance Company.
An insurance company that is owned by its policyowners. Also see stock insurance company and mutualization.
An insurance company which has no capital stock or stockholders, but is instead owned by its policyowners. One key feature of mutual companies is that earnings above those necessary for the operation of the company may be returned to the policyowners in the form of policy dividends.
Insurance company owned by policy owners rather than stockholders.
a company that is not publicly traded
a cooperative enterprise (at least theoretically) whose members (the policyholders) maintain a dual relationship with the company
a corporation owned by its policyholders, who may receive dividends if the firm is profitable
an insurance company organized for the mutual protection and benefit of its members and others who have beneficial interests in insurance policies and annuity contracts issued by the company
A company owned by policyholders rather than stockholders.
The insurance company in which the ownership and control is vested in the policyholders and a portion of surplus earnings may return to policyholders in the form of dividends.
An insurance company that has no stockholders. It is managed by a board of directors, elected by its policyholders. Any earnings in excess of those necessary for the operation of the company are returned to the policyholders in the form of dividends. (See also Stock Insurance Company. )
An insurance company without shareholders. Management is directed by a board elected in most cases by holders of participating policies.
An insurance company owned by policyowners rather than stockholders.
An insurance company where policyholders who own participating policies are considered members of the company. Membership rights include being able to vote for the board of directors, sharing in the results of the company through participating dividends and receiving some pro rata share of the remainder of the company if it is ever dissolved.
An insurance company in which the ownership and control is vested in the policy holders and a portion of surplus earnings may return to policy holders in the form of dividends. No capital stock exists.
A corporation owned, operated and controlled by its policyholders. It is organized under the subject to the general corporation and insurance laws of the state in which it is incorporated. The corporation assumes the defined insurable hazards of its member-policyholders charging them a premium and returning to them, at stated intervals, the savings which are affected by the careful management of the company. There is no capital stock and there are no stockholders. A board of directors is elected by the policyholders. The directors elect officers to manage the corporation.
A company with no capital stock that is owned and controlled by policyholders.
an insurance company owned by its policyholders i.e. it has no shareholders.
An insurance company which is owned by its policyholders who formed an association for the purposes of insuring one another against the possibility of fortuitous loss. Each policyholder pays a premium for his or her own policy. If at the end of the fiscal year the mutual insurance company declares a profit, the profit is shared amongst all the policyholders. If the company declares a loss there is also provision for the policyholders to be assessed a levy to make up for this shortfall. See Cash Mutual, Farm Mutual.
An insurance company owned by its policyowners. Contrast with stock insurance company.
A company owned by its policyholders that returns part of its profits to the policyholders as dividends. The insurer uses the rest as a surplus cushion in case of large and unexpected losses