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mutual
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World English Dictionary
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mutual insurance
mu·tu·al in·sur·ance
noun
Definition:
customer-owned insurance method:
a method of insurance in which the customers buying policies own the company, pay premiums into a common fund to cover claims, and share in the profits
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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