Mutual insurance companies (owned by their policyholders) have been around since the mid-1800s. Remember the insurance industry is a 100% legal reserve environment, unlike the banks that operate on fractional reserves. It is also state-regulated.
Mutual insurance companies (owned by their policyholders) have been around since the mid-1800s. Remember the insurance industry is a 100% legal reserve environment, unlike the banks that operate on fractional reserves. It is also state-regulated.