- reciprocal insurance
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insurance in which members of a reciprocal exchange, acting through an attorney-in-fact, insure themselves and each other.
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Universalium. 2010.
reciprocal insurance
Look at other dictionaries:
reciprocal insurance — n: insurance through a reciprocal exchange – called also interinsurance; Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
reciprocal insurance exchange — n: reciprocal exchange Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
reciprocal insurance association — An association providing reciprocal insurance to its members. 29 Am J Rev ed Ins § 102. See reciprocal insurance … Ballentine's law dictionary
reciprocal insurance — noun : a plan of insurance by which each member of a reciprocal exchange acting through an attorney in fact becomes an insurer of and is insured by every other member called also interinsurance * * * insurance in which members of a reciprocal… … Useful english dictionary
reciprocal insurance — A system whereby individuals, partnerships, or corporations, engaged in a similar line of business, undertake to indemnify each other against a certain kind or kinds of losses by means of a mutual exchange of insurance contracts, usually through… … Ballentine's law dictionary
reciprocal exchange — n: an unincorporated association in which members (as individuals, partnerships, trustees, or corporations) exchange contracts and pay premiums through an attorney in fact for the insurance of each other liability of each member of the reciprocal … Law dictionary
Reciprocal inter-insurance exchange — A reciprocal inter insurance exchange, is an insurance company referred to in United States state legislation as either a reciprocal insurance exchange, a reciprocal interinsurance exchange, or perhaps most properly a reciprocal inter insurance… … Wikipedia
insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… … Black's law dictionary
insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… … Black's law dictionary
reciprocal exchange — noun : an unincorporated association of companies or individuals set up to permit its members to take out reciprocal insurance * * * an unincorporated association formed so that its members can participate in reciprocal insurance … Useful english dictionary
