Meaning of “mutual insurance company” in the English Dictionary

business-english dictionary

"mutual insurance company" in Business English

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mutual insurance companynoun [ C ]

uk us 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. :

The company, a mutual insurer owned by its policyholders, said its net worth dropped 11% last year.

(Definition of “mutual insurance company” from the Cambridge Business English Dictionary © Cambridge University Press)