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Most insurance is written through private insurers. However, there are instances where governmental-based step in to offer an insurance alternative when private insurers are unable to provide protection, usually related to the catastrophic nature of the risk, capacity to handle the risk, and lack of desire to engage in a line of insurance where experience to evaluate necessary premium intake to offset potential loss is lacking
Private vs. Government Insurers
Issues non-participating policies and is owned by stockholders who may receive taxable corporate dividends as a share of the company's profit.
Stock Insurance
Issues participating policies and is owned by the policyholders who may receive non-taxable dividends as a return of any divisible surplus.
Mutual Insurance
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