Mutual insurance

Rarity: Common

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Notion

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Science and technology

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What Wikipedia says

A mutual insurance company is an insurance company that is people centric, jointly owned and democratically controlled by its policyholders. It is a form of consumers' co-operative that as of 2013 accounted for 27.3% of the global insurance market helping protect 915 million policy holders globally.

Excerpt from the Wikipedia article “Mutual insurance”, under the CC BY-SA 4.0 license. Read the article on Wikipedia