[Rhodes22-list] USAA

[Bill Effros]

Ed,

How does a mutual type organization differ from a socialist organization?

Bill Effros

Tootle wrote:
> USAA - has a web site that list eligibility requirements:
>
> https://www.usaa.com/inet/ent_references/CpStaticPages?PAGEID=cp_eligibility_landing
>
> What is USAA - When I became a member it was United Services Automobile
> Association.  It is a mutual insurance company wherein it is owned by
> members.  Founded because young males just joining the military found it
> hard and expensive to get car insurance.  And more difficult to get car
> insurance in foreign countries.
>
> It has grown.  I recall when they founded the life insurance division.  
>
> One big reason for it growth was who the members originally were. 
> Originally you had to be some kind of officer in the military or related
> governmental organization like doctors in the National Heath
> administrations.  What a pool for actuarial purposes that turned out to be.  
>
> It is a mutual type organization and not a socialist organization.  However,
> it does participate in assigned risk pools.  I recall meeting a driver who
> got car insurance thru USAA from being in the assigned risk pool.  For some
> reason not typical of people in an assigned risk pool he asked who USAA was. 
> He looked around who he was associating with now and got religion.  I had to
> laugh at how he was making sure that he did not loose his USAA car
> insurance.
>
> https://www.usaa.com/inet/ent_references/CpStaticPages?PAGEID=cp_aboutusaa
>
> Ed K
> Greenville, SC, USA
>