Insurance in a cooperative way refers to insurance provided by a cooperative organization. In a cooperative insurance model, members pool their resources to provide insurance coverage for one another. Each member is both a policyholder and an owner of the cooperative. As policyholders, they receive insurance coverage, while as owners, they have a say in how the cooperative is run and how profits are distributed.

Cooperative insurance can offer several benefits over traditional insurance models, such as lower costs due to reduced overhead and more personalized service. Additionally, as the members own and control the cooperative, they may have more influence over the types of insurance products and services offered and how claims are handled.

Examples of insurance cooperatives include rural insurance cooperatives, which provide insurance coverage to farmers and rural communities, and health insurance cooperatives, which provide coverage for medical expenses