👉 Wawanesa Mutual Insurance is a joke term that originated from a misinterpretation of "wawanesa mutual insurance" as meaning "the mutual insurance company." It was initially used to describe the act of buying insurance from a specific insurance agent, which would then be shared with other insurance agents for distribution.
An unsettling example sentence using this slang could be: "The mutual insurance broker wanted to keep its customers safe and protect their investments. So, they agreed to share profits among themselves when they sold policies to clients."
