Mutual insurer
Mutual insurer is an insurance corporation owned by the policyholders, who elect the board of directors. The board appoints managing executives, and the company may pay a dividend or give a rate reduction in advance to insureds.
Category: Banking & Finance
Previous: ← Multiple-line insurance
Next: Named insured →
More from this Section
- Protectionism
Protectionism is defined as the attempt by a national government to protect certain of ... - Scheduled personal property endorsement
Scheduled personal property endorsement allows special coverage added at the insured’s ... - Bond discount
Bond discount is the difference by which a bond's market price is lower than its face ... - Pledge
In the case of the pledge, the goods are placed in custody of the bank with its name on ... - Loan option
Loan option is a device to lock in the amount and cost of borrowing for a designated time ...