What are the 4 types of insurance companies?
The insurance industry is structured around four primary organizational models that dictate how policies are underwritten, managed, and distributed to consumers. The first is stock insurance companies, which are owned by shareholders and operated to generate profits through premium collections and investments. The second is mutual insurance companies, which are owned entirely by their policyholders, with surplus earnings returned as dividends or premium credits. The third is reciprocal exchanges, consisting of groups of members who agree to insure each other through an attorney-in-fact. The fourth is fraternal benefit societies, non-profit organizations providing insurance coverage primarily to members sharing common religious, ethnic, or professional affiliations.
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