The best interests of financial services consumers are much better aligned with a mutual insurance company than a stock insurance company.
Mutual insurance companies are owned by policyholders. Owners of an insurance contract issued by a mutual company are both customers and owners of the insurance company.
Stock-based insurance companies are owned by shareholders, so their focus is divided between customers and shareholders.
Mutual insurance companies are a form of cooperative where individuals voluntarily associate to form an organization that serves the mutual...