mutual insurance

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.

mutual insurance

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

Example Sentences

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

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A Southern California homeowner is suing Liberty Mutual Insurance Co. for canceling her longstanding insurance policy, accusing the company of dropping her for bogus reasons.

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“You get out, you get to see the world, and you get to see your favorite artist or performer at the same time, so there are a lot of wins to it,” said Warren, who works as the director of research and innovation for a mutual insurance company.

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Yet tank vessels and barges comply with this requirement through mutual insurance associations.

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That September order said Southern Coal failed to satisfy contractual obligations and must pay Charleston-based BrickStreet Mutual Insurance Co. $503,985 to maintain collateral for financial obligations, along with attorney fees.

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