Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
mutual insurance
A system of insurance (esp. life insurance) whereby the policyholders become members of the insurance company, each paying premiums into a common fund from which each can draw in the event of a loss.
mutual insurance company
An insurer whose policyholders are its owners, as opposed to a stock insurance company owned by outside shareholders. Cf. STOCK INSURANCE COMPANY.