personal finance | green plant at home

How many different types of insurance providers are there?

How many different types of insurance providers are there?

There are generally four types of insurance providers:

  • Mutual Insurers (insurance companies owned by their policy holders)
  • Reciprocal Exchanges (insurance companies wherein customers insure each other)
  • Lloyd Associations (a situation where those managing the insurance policies assume personal risk in the performance of the company by having their own wealth invested in the firm)
  • HMOs (Health Maintenance Organizations - health insurance companies that offer their customers health coverage for a pre-paid premium)
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