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 insurance resulting from the mutual
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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 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
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Reciprocal insurance means the aggregation of subscribers under a
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Reciprocal insurance means is that resulting from an 616 interexchange among persons, known as “subscribers,” of
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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;

  • Collateral Insurance shall have the meaning set forth in Section 4.4(a).

  • FHA Insurance The contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.

  • Dental Insurance The District shall contribute $360.00 annually toward the cost of dental insurance whether for single or family coverage for full-status employees who qualify for and enroll in the plan. The cost of the premium not contributed by the District for family coverage shall be borne by the employee through payroll deduction.

  • Crew Insurances means insurances against crew risks which shall include but not be limited to death, sickness, repatriation, injury, shipwreck unemployment indemnity and loss of personal effects.

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

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgage Loan, Mortgaged Property or REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

  • 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).

  • Additional Insureds has the meaning specified in Section 7.06(a) of the Indenture.

  • 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 in an aggregate amount acceptable to Seller’s regulators.

  • Insurance means comprehensive insurance of the vehicle(s)/equipment and shall include insurance of the crew.

  • First party insurance means an insurance policy or contract in which the insurer agrees to pay a claim submitted to it by the insured for the insured's losses.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • 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.

  • Loss Payee Has the meaning specified in Section 13.02(b)(i) of the Lease.

  • Hazard Insurance A fire and casualty extended coverage insurance policy insuring against loss or damage from fire and other perils covered within the scope of standard extended hazard coverage naming the Servicer, its successors and assigns, as a mortgagee under a standard mortgagee clause, together with all riders and endorsements thereto.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • Primary insurance means the policies listed in this policy’s Umbrella Schedule.

  • Primary Mortgage Insurance Insurance obtained from a Primary Mortgage Insurer which insures the holder of a Mortgage Note against loss in the event the related Borrower defaults under such Mortgage Note or the related Security Instrument, including all riders and endorsements thereto.