reciprocal insurance

A system whereby several individuals or businesses act through an agent to underwrite one another’s risks, making each insured an insurer of the other members of the group.

— Also termed interinsurance. [Cases: Insurance 1204. C.J.S. Insurance §§ 1712, 1720.]

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词条贡献者

法律翻译晓琳，国际知名商学院金融专业，专注翻译各类与金融服务与投资管理有关的法律文件。