reciprocal insurance

Definition of "reciprocal insurance"
  1. A form of coverage procured through an interchange from one party to another
How to use "reciprocal insurance" in a sentence
  1. In order to mutually share potential risk, several companies decided to form a reciprocal insurance exchange.
  2. The homeowner got her property security via reciprocal insurance, reducing their personal risk exposure.
  3. To manage financial liability among the members, the transportation companies entered into a reciprocal insurance agreement.

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