A Mutual Insurance Company is a type of insurance provider owned by its policyholders. Instead of shareholders, the company is run for the benefit of those who purchase insurance policies. This structure allows policyholders to have a say in the company's operations and decisions, often through voting rights. In a mutual insurance model, profits are typically returned to policyholders in the form of dividends or reduced premiums. This approach can create a sense of community among members, as they share both the risks and rewards of the insurance coverage they collectively support.