mutual insurance


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.

Nearby words

  1. mutual assured destruction,
  2. mutual fund,
  3. mutual impedance,
  4. mutual inductance,
  5. mutual induction,
  6. mutual insurance company,
  7. mutual resistance,
  8. mutual savings bank,
  9. mutualism,
  10. mutualist

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019


British Dictionary definitions for mutual insurance

mutual insurance

noun

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 paidSee also mutual (def. 3)
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012