A group comprised of either individuals, corporations or other entities, which mutually exchange insurance policies and share the underlying insurance risks with other members of the group. Each policyholder must appoint a representative attorney to oversee the reciprocal exchange, to insure the legality and balance of such shared contracts.
Related information about reciprocal insurance exchange:
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A reciprocal inter-insurance exchange, is a special unincorporated form of insurance company. A reciprocal inter-insurance exchange is not a "mutual insurance ...
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Definition of reciprocal insurance exchange: Unrelated individuals who come together to insure each other. Under this type of arrangement, each person takes ...
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Nov 3, 2009 ... A Reciprocal Insurance Exchange is usually defined as a group of individuals, corporations or entities who, as members, agree to exchange ...
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An unincorporated group of individuals, firms or corporations or entities who are commonly termed as subscribers or members, mutually agree to exchange ...
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An unincorporated association—or group of individuals, firms or corporations— organized to write insurance for and mutually insure one another as members of ...
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Business Definition for: reciprocal insurance exchange. Dictionary of Insurance Terms. reciprocal insurance exchange. See also reciprocal exchange. Related ...
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An un-incorporated group of individuals, firms or corporations, commonly termed subscribers, who mutually insure one another, each separately assuming his or ...