Forms Of Insurance Company Flashcards
1
Q
Proprietary insurance companies
A
Proprietary insurance companies have shareholders who are part owners of the business and can take profit in the form of dividends
2
Q
Protected cell insurance companies (PCC)
A
Protected cell insurance companies are limited insurance companies which are divided into legally separate cells. Shareholders have ownerships of only a single cell.
3
Q
Mutual insurance companies
A
Mutual insurance companies are owned by their policyholders. Profits are shared by reducing premiums or paying dividends.
