Which type of insurer consists of an unincorporated group of members - ProProfs Discuss
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Which type of insurer consists of an unincorporated group of members who share losses and provide insurance to each other?



A. Lloyd s Association
B. Reciprocal exchange
C. Mutual company
D. Multi-line insurer

This question is part of Practise Exam 1
Asked by Sue, Last updated: Jan 15, 2020

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1 Answer

John Smith

John Smith

Answered Jun 01, 2017

Reciprocal exchange

Reciprocal insurers consist of members who are unincorporated and collectively share losses and provide insurance to themselves. Lloyds Associations are syndicates of insurance underwriters, and mutual and multi-line insurers are examples of traditional insurance companies.
 

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