General Insurance PrinciplesCâu 189 / 474
A reciprocal insurance exchange is distinguished from other insurers by being:
a.run by an attorney-in-fact for subscribers who insure each other
b.a nonprofit lodge writing benefits only for its own members
c.a marketplace where syndicates of members accept each risk
d.a state-run pool that takes risks the market has rejected
Giải thích
A reciprocal is an unincorporated group of subscribers who exchange insurance contracts with one another and share the losses, and the whole arrangement is managed by an attorney-in-fact. The lodge answer describes a fraternal benefit society, a nonprofit membership organization writing chiefly life and health benefits for its members. A residual-market pool is a different mechanism again, created for applicants the voluntary market turned down.
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