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

Weber says that, in his experience, mutual insurance companies’ consistent dividend payouts tend to make up for an expensive premium.

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

As mutual insurance societies, they are irresponsible, and more liable to corruption, just because they are secret.

From Secret Societies by MacDill, David