reciprocal insurance

noun

1. insurance in which members of a reciprocal exchange, acting through an attorney-in-fact, insure themselves and each other.

Example Sentences

Also sometimes known as reciprocal insurance exchanges, they include USAA, Automobile Club of Southern California, Amica Mutual and NJM Insurance.

From New York Times

If such occur, then comes in the assistance of the reciprocal insurance.

From Project Gutenberg