mutual insurance

American  

noun

1. 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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mutual insurance British  

noun

1. a system of insurance by which all policyholders become company members under contract to pay premiums into a common fund out of which claims are paid See also mutual

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Example Sentences

It provided mutual insurance: a network of people who, in moments of need, would show up for one another.

From The Wall Street Journal • Apr. 19, 2026

While most carriers pocket your premiums, mutual insurance companies are owned by their customers — and this year, they’re sending out record-breaking dividends to policyholders.

From MarketWatch • Apr. 16, 2026

Since the 1800s, shipping insurers have pooled together in mutual insurance clubs that sell separate coverage for losses to ships and cargo caused by war, terrorism, and piracy.

From Barron's • Mar. 2, 2026

More recently, the nonprofits have converted into mutual insurance holding companies.

From Los Angeles Times • Jun. 30, 2025

He resents the rôle of being the lock of the merchant's strong-box and the head of that mutual insurance company which is called the state.

From Essays on Scandinavian Literature by Boyesen, Hjalmar Hjorth