Home > Terms > English, UK (UE) > Mutual insurance companies
Mutual insurance companies
Companies with no capital stock, and owned by policyholders. The earnings of the company--over and above the payments of the losses, operating expenses and reserves--are the property of the policyholders. There are two types of mutual insurance companies. A nonassessable mutual charges a fixed premium and the policyholders cannot be assessed further. Legal reserves and surplus are maintained to provide payment of all claims. Assessable mutuals are companies that charge an initial fixed premium and, if that isn't sufficient, might assess policyholders to meet losses in excess of the premiums that have been charged.
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Insurance
- Category: Life insurance
- Company:
- Product:
- Acronym-Abbreviation:
Other Languages:
Member comments
Terms in the News
Featured Terms
Oikos University shooting
On April 2, former Oikos University student, One L. Goh, shot and killed 7 students in a shootout that terrorised the small Korean Christian school. ...
Contributor
Featured blossaries
farooq92
0
Terms
47
Blossaries
3
Followers
Top 10 University in Beijing, China
Browers Terms By Category
- Advertising(244)
- Event(2)
Marketing(246) Terms
- Automobile(10466)
- Motorcycles(899)
- Automotive paint(373)
- Tires(268)
- Vehicle equipment(180)
- Auto parts(166)
Automotive(12576) Terms
- Marketing communications(549)
- Online advertising(216)
- Billboard advertising(152)
- Television advertising(72)
- Radio advertising(57)
- New media advertising(40)
Advertising(1107) Terms
- News(147)
- Radio & TV broadcasting equipment(126)
- TV equipment(9)
- Set top box(6)
- Radios & accessories(5)
- TV antenna(1)
Broadcasting & receiving(296) Terms
- Skin care(179)
- Cosmetic surgery(114)
- Hair style(61)
- Breast implant(58)
- Cosmetic products(5)