Who elects the governing body of a mutual insurance company?

The governing body of a mutual insurance company is typically elected by its policyholders. Unlike stock insurance companies, which are owned by shareholders, mutual insurance companies are owned by the individuals and entities that purchase insurance policies from them. Each policyholder typically has the right to vote on important matters, including the election of the governing body, which may include a board of directors.

The election procedures can vary based on the company's bylaws, including details about eligibility to vote, the nomination process for candidates, and the frequency of elections. In many cases, policyholders receive ballots either by mail or electronically, allowing them to participate in the governance of the company that insures their interests. This structure ensures that the policyholders have a say in the management and strategic direction of the company.