reciprocal exchange


: 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

called also interinsurance exchange, reciprocal insurance exchange, reciprocal interinsurance exchange

Dictionary Entries Near reciprocal exchange

Cite this Entry

“Reciprocal exchange.” Legal Dictionary, Merriam-Webster, Accessed 8 Jun. 2023.

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