Co-operative insurance

Co-operative insurance is a system where members come together to share risks and pool resources to provide insurance coverage for one another. Unlike traditional insurance companies, which are profit-driven, co-operative insurance operates on a member-focused model, where profits are reinvested into the cooperative or returned to members as dividends. Members pay premiums, and in return, they receive protection against losses, such as property damage or liability claims. This approach emphasizes collaboration, mutual aid, and community support, making it a more democratic and potentially cost-effective way for individuals to safeguard their assets and manage risks.