Reciprocal insurance definition

Reciprocal insurance means insurance from an interexchange among persons, known as subscribers, of reciprocal agreements of indemnity, the interexchange being carried out through an attorney-in-fact common to all persons involved;
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Reciprocal insurance means insurance resulting from the mutual exchange of insurance contracts among persons in an unincorporated association under a common name through an attorney-in-fact having authority to obligate each person both as insured and insurer.
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Reciprocal insurance means is that resulting from an
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Examples of Reciprocal insurance in a sentence

  • Reciprocal insurance exchange – an insurer owned by policyholders and is formed as an unincorporated association for the purpose of providing insurance coverage to its members (called subscribers), and managed by an attorney-in-fact.

  • No change.3. Reciprocal insurance under Chapter 629 Section 629.5011, F.S.

  • Reciprocal Insurer Reserve Requirements Reciprocal insurance is a risk-pooling alternative to stock or mutual insurance.54 Reciprocal insurance involves an exchange of reciprocal agreements of indemnity among participants who are known as “subscribers.”55 The subscribers generally have something in common.

  • Pursuant to the program guidelines, the following was taken into consideration for the proposed project: project is not a retail project; project is not a retention project; involves out-of-state competition; has a net positive return to Michigan; level of investment is significant for the rural location of the project; prospect of near-term job creation; wage level for new jobs is significantly higher than the county average wage.

  • Reciprocal insurance exchanges.*Sector: Financial ServicesSub-Sector: Banking and other financial services (excluding insurance) Trust and loan companiesType of Reservation: Market AccessLevel of Government: Provincial – New Brunswick Measures: Loan and Trust Companies Act (S.N.B. 1987, c.-L-11.2) Description: To operate as a trust and loan company under the New Brunswick regime an entity must be a body corporate to which the Loan and Trust Companies Act applies.

  • Reciprocal insurance exchanges comprise of a series of private contracts in which subscribers or members of the group agree to insure each other.

  • Reciprocal insurance means that insurance resulting from the exchange of insurance contracts among subscribers of an unincorporated association, the interexchange being effectuated through an attorney-in-fact common to all such subscribers, thereby providing insurance coverage on each other.

  • Therefore, the interpretation of international treaty provisions pertaining to the right to strike should take into account the various conflicting rights and the legitimate private and public interests at stake.

  • Reciprocal insurance exchanges are alternative insurance vehicles that operate as a loss-sharing pool, with the power to retroactively assess member participants for any losses beyond their existing funding.

  • Reciprocal insurance against riskFinally, variance in return rates across shorter time spans (days, weeks, months, or potentially years) produce returns to forming relationships of reciprocal food sharing.


More Definitions of Reciprocal insurance

Reciprocal insurance means insurance resulting from the mutual
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Reciprocal insurance means is that resulting from an 607 interexchange among persons, known as “subscribers,” of
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Reciprocal insurance means insurance from an interexchange among persons, known as subscribers, of reciprocal agreements of indemnity, the interexchange being
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Reciprocal insurance means is that resulting from an 616 interexchange among persons, known as “subscribers,” of
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Reciprocal insurance means is that resulting from an 689 interexchange among persons, known as "subscribers," of
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Reciprocal insurance means the aggregation of subscribers under a
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Related to Reciprocal insurance

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following:

  • Industrial insured means an insured:

  • Franchise insurance means an individual insurance policy provided through a

  • general insurance business means any class of insurance business other than long-term insurance business;

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Additional Insured is defined in Section D of Annex D to the Lease.

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Property Insurance is defined in Section 6.10(a).

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • First party insurance means an insurance policy or contract in which the insurer

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • contract of insurance means an agreement between the Secretary of Education and either the Trustee or the Seller providing for the insurance by the Secretary of Education of the principal of and accrued interest on a FFELP Loan to the maximum extent permitted under the Higher Education Act.