A new form of insurance company, which is a hybrid between a pure mutual and a pure stock company, has been approved by some states and implemented by some insurance companies in these states since their introduction in 1996. This form is called a ________.

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A mutual holding company (MHC) is a type of insurance company that combines elements of a pure mutual and a pure stock company. It is owned in part by policyholders (like a mutual company) and in part by shareholders (like a stock company). This structure allows policyholders to share in the company's profits and have greater control over the company, while still allowing for outside investment through the sale of stock. MHCs were first introduced in 1996 and have been approved by several states since then.

A New Form of Insurance Company, Which Is a Hybrid