Organizations that are established as vehicles for their parent corporations to set aside funds for workers compensation, medical malpractice, general liability claims, and other insurance purposes. This code is used primarily for organizations exempt from federal taxes under 501(c)(3) of the Internal Revenue Code.
Key words: Casualty Insurance; Disability Insurance; General Liability Insurance; Group Insurance; Life Insurance; Medical Malpractice Insurance, Professional Malpractice Insurance; Property Insurance; Workers Compensation Insurance; VEBA
Scope notes: Include VEBAs: "A voluntary employees beneficiary association (VEBA) under Internal Revenue Code section 501(c)(9) is an organization organized to pay life, sick, accident, and similar benefits to members..."
See also: Health (General & Financing)
Organizations that provide life insurance approximately at cost and on a mutual basis on a purely local or regional basis.
Key words: Local Benevolent Life Insurance Associations; cooperative life insurance companies; and mutual life insurance companies
Scope notes: This category formerly included mutual utility and service companies. W50 is used for all mutual communications organizations and W80 is used for all other mutual utilities that provide electric power, water, gas and like services (effective 2008).
See also: Telecommunications and Public Utilities