mutual insurance


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.

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Universalium. 2010.

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 — 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 …   Australian English dictionary

  • 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 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


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