What Does Reciprocal Insurance Exchange Mean?

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What does Reciprocal Insurance Exchange mean? Read on to discover the definition & meaning of the term Reciprocal Insurance Exchange - to help you better understand the language used in insurance policies.

Reciprocal Insurance Exchange

Reciprocal Insurance Exchange

A reciprocal insurance exchange refers to a group of individuals who agree to share each other's insurance risks through the exchange of insurance contracts or policies. Each member of this group appoints and authorizes an attorney-in-fact who manages the affairs of the exchange.

We hope the you have a better understanding of the meaning of Reciprocal Insurance Exchange.

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