What is mutual insurance?

Mutual Insurance

A mutual insurance company is an insurance company owned entirely by its policyholders. Any profits earned by a mutual insurance company are rebated to policyholders in the form of dividend distributions or reduced future premiums. In contrast, a stock insurance company is owned by investors who have purchased company stock; any profits generated by a stock insurance company are distributed to the investors without necessarily benefiting the policyholders.

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Some articles on mutual insurance:

Mutual Organizations - Background
... The primary form of financial business set up as a mutual company in the United States has been mutual insurance ... Some insurance companies are set up as stock companies and then mutualized, their ownership passing to their policy owners ... In mutual insurance companies, what would have been profits are instead rebated to the clients in the form of dividend distributions, reduced future premiums or paid up additions to the ...
List of Mutual Insurance Companies - United States
... Acacia Life Insurance Company American Family Insurance Ameritas Life Insurance Company Amica Mutual Insurance Company Auto-Owners Insurance CAMICO Mutual Insurance Company Central Mutual Insurance ...
Amica Mutual Insurance
... Amica Mutual Insurance Company is an American mutual insurance company which sells automobile, homeowners, marine and personal umbrella liability insurance, founded in 1907 ... Amica is one of the few remaining large-scale mutual insurance firms that consistently ranks highly in JD Power and other consumer satisfaction rankings ...
Mutual Organizations - Modern Mutuality
... types of financial institutions around the world are mutuals, and examples include Asset management companies (most are not mutual) The Vanguard Group - United States TIAA-CREF - United States Building ... In some markets, mutuals offer very competitive interest rates and fee tariffs on savings and deposit accounts, mortgages and loans ... The members who save and borrow with the mutual ultimately own the business ...
Ohio National Life Insurance Company
... The Ohio National Life Insurance Company, is a mutual insurance company headquartered in Cincinnati, Ohio ... as a stock company in 1909 but converted to mutual company status in 1959 ... In 1998, Ohio National reorganized as a mutual insurance holding company ...

Famous quotes containing the words insurance and/or mutual:

    Women hock their jewels and their husbands’ insurance policies to acquire an unaccustomed shade in hair or crêpe de chine. Why then is it that when anyone commits anything novel in the arts he should be always greeted by this same peevish howl of pain and surprise? One is led to suspect that the interest people show in these much talked of commodities, painting, music, and writing, cannot be very deep or very genuine when they so wince under an unexpected impact.
    John Dos Passos (1896–1970)

    We call it a Society; and go about professing openly the totalest separation, isolation. Our life is not a mutual helpfulness; but rather, cloaked under due laws-of-war, named “fair competition” and so forth, it is a mutual hostility.
    Thomas Carlyle (1795–1881)