Entry from US English dictionary
Definition of mutual insurance in English:
Insurance in which some or all of the profits are divided among the policyholders.
- Wright and Smith report on the changing burden of tax laws on mutual insurance companies and their policyholders as those laws were revised in the postwar era.
- A ‘huge’ €20 billion mutual insurance fund to cover airlines against terrorism and war attacks will be proposed by the European Union Transport Commissioner next week.
- The key institution of financial capital in this period was AMP, the leading Australian mutual insurance company, subsequently de-mutualised in 1998.
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