What type of insurer can be defined as an unincorporated mutual in which each member insures the other members and, in turn, is insured by the other members?

(a) stock insurer
(b) assessment mutual
(c) reciprocal exchange
(d) fraternal insurer

Ans: (c) reciprocal exchange

Business

You might also like to view...

The payment of claims provisions states that the insurer will pay the death benefit within how many days after receiving notification of the claim?

A) 145 days B) 90 days C) 60 days D) 120 days"

Business

A business could elect to pursue a large-segment strategy when ________

A) it wants to provide customized products B) a market is segmented and marketing resources are limited C) demographics are not distinctive D) differences in customer needs are small E) it wants to carve out a niche within a segment using a highly refined marketing effort directed at an overlooked group of customers

Business