cooperative insurance

Cooperative insurance is a type of insurance model where members pool their resources together to protect against risks. Instead of a traditional insurance company profiting from premiums, members contribute to a shared fund that covers claims among them. Each member has a stake in the cooperative, promoting a sense of community and shared responsibility. This model often leads to lower costs and more equitable treatment, as the focus is on mutual assistance rather than profit. In essence, it’s insurance by the people, for the people, emphasizing collaboration and support.