Generally speaking, mutual insurance is a mutual insurance behavior on the basis of equality and voluntariness, aiming at mutual assistance, risk sharing and income sharing. The premiums paid by members converge into a risk protection fund pool, and when disaster losses occur, the funds are used to make up for the members.
Zhonghui Mutual Insurance Co., Ltd. is the first mutual insurance company officially approved by China Insurance Regulatory Commission with the encouragement of the State Council. Its full name is Zhonghui Property Mutual Insurance Co., Ltd., which can refer to the model of this enterprise.
According to the Notice on Supervision of Self-insurance Companies issued by the CIRC, a self-insurance company refers to an insurance company that is approved by the China Insurance Regulatory Commission and funded by the parent company alone or jointly by the parent company and its holding subsidiaries, and only provides property insurance, short-term health insurance and short-term accidental injury insurance for the parent company and its holding subsidiaries.
The business scope of the self-insurance company covers property insurance, short-term health insurance and short-term accident insurance for employees of the parent company and its holding subsidiaries. A self-insurance company may carry out insurance and reinsurance ceding business at the place where the parent company and its holding subsidiaries are located; If no branch is established, it shall be reported to other places for underwriting and claims settlement. The main owners of reinsurance sub-business of self-insurance companies are limited to the parent company and its holding subsidiaries. The parent company shall abide by its commitment to bear the risk liability for the self-insurance company established by it, and shall not change or terminate it without authorization.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.