Nonprofit insurers

{
  "id": "MLC-T-INS-002352",
  "term": "Nonprofit insurers",
  "field": "Insurance and risk management",
  "definition": "Insurance organizations structured as not-for-profit corporations, meaning they have no shareholders and do not exist to generate profit for owners. Any surplus revenue generated from premiums exceeding claims and operating costs is reinvested into the organization or used to lower future premiums for members. Blue Cross and Blue Shield plans originated as nonprofit entities, although many have since converted to for-profit status.",
  "url": "https://mlchart.com/terminology/insurance/nonprofit-insurers/"
}