A major difference between stock and mutual insurers is:

Select one:

a.

stock insurers pay dividends to policyholders and mutual insurers do not.

b.

stock insurers are owned by their stockholders, while mutual insurers are owned by their policyholders.

c.

mutual insurers are not taxed, while stock insurers pay tax.

d.

stock insurers are incorporated and mutual insurers are not.