- reciprocal insurance exchange
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reciprocal insurance exchange n: reciprocal exchange
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
reciprocal insurance exchange
Look at other dictionaries:
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
reciprocal insurance — n: insurance through a reciprocal exchange – called also interinsurance; Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
insurance exchange — An association of insurance companies or insurance agents for the purpose of promoting the business, welfare, and convenience of the members, and to secure uniformity in the insurance business. 29 Am J Rev ed Ins § 109. In another and distinct… … Ballentine's law dictionary
reciprocal insurance — insurance in which members of a reciprocal exchange, acting through an attorney in fact, insure themselves and each other. * * * … Universalium
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
insurance company — A company engaged in the business of making contracts by which it agrees to indemnify the other parties thereto from a loss or damage which they may suffer from a specified peril. Strictly construed, an insurance company regularly incorporated… … Ballentine'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
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
