reciprocal exchange

Definition of "reciprocal exchange"
  1. This refers to an unassociated group where members, who can be individuals, alliances, trusts, or corporations, interchange contracts and invest premiums via a legal representative for the purpose of insuring each other
How to use "reciprocal exchange" in a sentence
  1. After conducting a reciprocal exchange, the trustees were able to insure each other.
  2. The individuals opted for a reciprocal exchange to secure their contracts and pay premiums.
  3. Through a reciprocal exchange, the corporations could effectively ensure mutual insurance.

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