What Does Reciprocity Mean?

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

Reciprocity

Reciprocity

Reciprocity refers to the act of legally exchanging privileges among states, businesses, and people. In terms of insurance, it means that insurance companies exchange shares of insurance, usually with the same amount.

We hope the you have a better understanding of the meaning of Reciprocity.

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