reciprocal exchange
- 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
- After conducting a reciprocal exchange, the trustees were able to insure each other.
- The individuals opted for a reciprocal exchange to secure their contracts and pay premiums.
- Through a reciprocal exchange, the corporations could effectively ensure mutual insurance.
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