Reciprocal

{
  "id": "MLC-T-INS-002815",
  "term": "Reciprocal",
  "field": "Insurance and risk management",
  "definition": "An unincorporated association of individuals or organizations, known as subscribers, who agree to insure each other's risks. Each subscriber is both an insured and an insurer, sharing in the profits and losses of the group. A common attorney-in-fact manages the operations, underwriting, and claims for all subscribers.",
  "url": "https://mlchart.com/terminology/insurance/reciprocal/"
}