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

You are asked to engage in the great work of mutual education, which must be for this country the system of mutual insurance.

From Project Gutenberg

We do not blame Odd-fellows, Good-fellows, Druids, or any other association for acting as mutual insurance companies.

From Project Gutenberg

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

From Project Gutenberg

They undertake a multitude of risks which were unknown to the primitive mutual insurance associations.

From Project Gutenberg

Numbers of the citizens came into his scheme; and a large "Mutual Insurance Company," was immediately formed.

From Project Gutenberg