Mutual Insurance
Defined in 3 dictionaries — Cyclopedic (1922), Bouvier (1914), Black's (1891)
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
A form of life insurance in which the insurer is an association in which all the policy holders are members, and the losses are met by assessments levied upon the members either periodically, or as the exigency arises. See 50 Miss. 662.
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
That form of insurance in which each person Insured becomes a member of the company, and the members reciprocally engage to indemnify each other against losses, any loss being met by an assessment laid upon all the members. See Insurance.
A Dictionary of Law
Henry Campbell Black · 1891
That form of insurance in which sach person insured becomes a member of the company, and Lha members reciprocally engage to indemnify each other against losses, any loss being met by an assessment laid upon all the members.