Insurance Licensing Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Virginia-Life-Annuities-and-Health-Insurance Question # 73 Topic 8 Discussion
Insurance Licensing Virginia Life, Annuities, and Health Insurance Examination Series 11-01 Virginia-Life-Annuities-and-Health-Insurance Question # 73 Topic 8 Discussion
Mutual insurers are organized for the benefit of their policyholders, who are the owners of the company. Profits are returned to policyholders in the form of dividends or reduced premiums, unlike stock insurers which are owned by shareholders.
Exact Extract (Virginia Insurance Study Guide): “Mutual insurance company—owned by policyholders; profits distributed as dividends or premium reductions.”
References (Virginia Documents / Study Guide):
— Virginia General Insurance Concepts Outline, Section 1.1 Types of insurers
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