An insurer owned by its policyholders is referred to as what type of insurer?

A mutual insurer is one that is owned by its policyholders, meaning that the individuals who hold policies with the insurer also have a stake in the company. This ownership structure allows policyholders to participate in the decision-making processes and potentially share in the profits of the insurer in the form of dividends or reduced premiums. Mutual insurers are primarily focused on serving their policyholders' interests, rather than generating profit for external shareholders, which is the case with stock insurers. The mutual structure promotes alignment between the insurer's goals and the policyholders' needs, often leading to a stronger emphasis on customer service and satisfaction. This contrasts with the other types of insurers, which may operate under different ownership models.