Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
reciprocal exchange
An association whose members exchange contracts and pay premiums through an attorney-in-fact for the purpose of insuring themselves and each other. 0 A reciprocal exchange can consist of individuals, partnerships, trustees, or corporations, but the exchange itself is unincorporated. - Also termed interinsurance exchange; reciprocal insurance exchange; reciprocal interinsurance exchange. See reciprocal insurance under INSURANCE.