The term stock company refers to an insurance company that has, in addition to surplus and reserve...
A mutual company is an insurance company that is owned by its insureds.
This is as opposed to a stock insurance company, which is owned by stockholders who are not necessarily insureds. Every owner of a mutual insurer is an insured; every insured is an owner.
mutual insurer
The term stock company refers to an insurance company that has, in addition to surplus and reserve...