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1 definition found
 for Mutual insurance
From The Collaborative International Dictionary of English v.0.48 :

  Mutual \Mu"tu*al\, a. [F. mutuel, L. mutuus, orig., exchanged,
     borrowed, lent; akin to mutare to change. See Mutable.]
     1. Reciprocally acting or related; reciprocally receiving and
        giving; reciprocally given and received; reciprocal;
        interchanged; as, a mutual love, advantage, assistance,
        aversion, etc.
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              Conspiracy and mutual promise.        --Sir T. More.
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              Happy in our mutual help,
              And mutual love.                      --Milton.
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              A certain shyness on such subjects, which was mutual
              between the sisters.                  --G. Eliot.
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     2. Possessed, experienced, or done by two or more persons or
        things at the same time; common; joint; as, mutual
        happiness; a mutual effort. --Burke.
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              A vast accession of misery and woe from the mutual
              weeping, and wailing, and gnashing of teeth.
                                                    --Bentley.
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     Note: This use of mutual as synonymous with common is
           inconsistent with the idea of interchange, or
           reciprocal relation, which properly belongs to it; but
           the word has been so used by many writers of high
           authority. The present tendency is toward a careful
           discrimination.
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                 Mutual, as Johnson will tell us, means something
                 reciprocal, a giving and taking. How could people
                 have mutual ancestors?             --P. Harrison.
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     Mutual insurance, agreement among a number of persons to
        insure each other against loss, as by fire, death, or
        accident.
  
     Mutual insurance company, one which does a business of
        insurance on the mutual principle, the policy holders
        sharing losses and profits pro rata.
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     Syn: Reciprocal; interchanged; common.
          [1913 Webster]

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