Quote:
Originally Posted by Savage_Messiah
this happens with mutual insurance companies... policyowner = shareholder
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Correct. The MedMal company I used to work for was a mutual (actually a reciprocal). Profits were supposed to go back to policyholders. The old CEO had a saying "if we don't spend it we have to give it back". I suppose that is why they are out of business and NJM is not. LOL