Farm mutual

{
  "id": "MLC-T-INS-001465",
  "term": "Farm mutual",
  "field": "Insurance and risk management",
  "definition": "An insurance company owned by its policyholders that specializes in providing property and casualty coverage for agricultural risks in a limited geographic area. These mutuals focus on insuring farms, ranches, and related rural properties against perils like fire, wind, and hail. Because they are not-for-profit and operate in a specific region, their premiums can be lower than those of stock insurance companies.",
  "url": "https://mlchart.com/terminology/insurance/farm-mutual/"
}