A mutual company is an insurance company that is owned by its insureds.
assessment company
An assessment company refers to an insurer that retains the right to assess additional charges above initial premium when those premiums are shown to be inadequate to cover the costs of operation.
Additional Information
This is usually a mutual or reciprocal type of insurer.
Related Terms
A reciprocal is an unincorporated group of individuals or organizations (subscribers) that agree to...
