Mutual insurance companies are owned by their policyholders, and closely related to cooperatives. Policyholders are entitled to vote for members of the company's board of directors, and may receive special dividends in the form of capital distributions or reductions of policy premiums. Unlike stock companies, mutual companies exist solely to serve the insurance needs of their policyholders, and not to provide investment profits to shareholders. They may not technically be cooperatives, but they work for members’ benefit, and return profits through lower rates and even refund checks.
Some co-ops provide healthcare insurance coverage. You can read more about these co-ops here.
CUNA Mutual Group is the leading financial services provider to credit unions and their members worldwide. CUNA Mutual offers more than 300 insurance, investment and technological solutions through strategic relationships and multiple service channels. As a mutual company, CUNA Mutual belongs to its credit union policyholders, and operates to serve their best interest.
National Association of Mutual Insurance Companies (NAMIC) is a century-old property and casualty insurers’ trade association ; it is the industry's largest both in number of member companies and for the amount of business underwritten.
The Philadelphia Contributionship was founded by Benjamin Franklin and others who sought a cooperative solution to protecting their homes and businesses against fire. In operation since 1752, it is the oldest cooperative enterprise in the country.
Nationwide is an industry leader in insurance and financial services, serving customers with personal property and casualty, long-term savings and commercial insurance products and services.
Northwestern Mutual has been offering its members coverage since 1857
Cooperativa de Seguros Multiples is one of Puerto Rico’s largest insurers, focusing on home, auto, and liability insurance. It is owned by 200 other cooperatives.