Search results
A reciprocal inter-insurance exchange or simply a reciprocal in the United States is an unincorporated association in which subscribers exchange insurance policies to pool and spread risk. For consumers, reciprocal exchanges often offer similar policies to those offered by a stock company or a mutual insurance company.
Jun 4, 2021 · Reciprocal insurance exchanges—also known as reciprocal inter-insurance exchanges—are simply another way to structure insurance organizations. Similarly to how mutual insurance companies work, policyholders own reciprocal insurance exchanges.
The Farmers Exchanges, headquartered in Los Angeles, CA, are three reciprocal inter-insurance exchanges (Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange) in which members exchange insurance policies with each other via Farmers Group, Inc. (FGI) as attorney-in-fact. The Farmers Exchanges, directly or through ...
- 12,740 (2019)
- US$ 11.65 billion (2019)
- 6301 Owensmouth Avenue, Woodland Hills, Los Angeles, California, U.S.
3 days ago · Reciprocal insurance exchange definition. In a reciprocal insurance exchange — or reciprocal inter-insurance exchange — the company is owned by its policyholders but managed by a separate entity called an attorney-in-fact (AIF), who has power of attorney for the company.
Dec 29, 2023 · A reciprocal insurance exchange, often referred to as a reciprocal interinsurance exchange, is a distinctive structure within the insurance industry. Unlike traditional insurance companies,...
- Jeannine Mancini
Reciprocal inter-insurance exchange. The United Services Automobile Association ( USAA) is an American financial services company providing insurance and banking products exclusively to members of the military, veterans and their families. [6]
Jan 16, 2024 · A reciprocal insurance exchange is a unique type of insurance organization that is owned and operated by its policyholders. Unlike traditional insurance companies that are often owned by shareholders, a reciprocal insurance exchange is owned by its policyholders themselves.
