Workers' Compensation Insurance Rating Bureau of California (WCIRB) - An unincorporated, nonprofit association comprised of all companies licensed to transact workers' compensation insurance in California and has over 400 member companies. Provides staqtistical data for insurers, agents and brokers, regula...
American Lloyds - Unincorporated associations of individual underwriters who assume specified portions of liability under each policy issued. There is no connection with Lloyd's of London.American Municipal Bond Assurance Corporation (AMBAC) - A corporation that offers insurance policies on new municipal ...
such as Payable-on-death accounts and formal revocable trusts such as living/family trusts created for estate planning purposes), (4) irrevocable trusts, (5) certain retirement plans, (6) employee benefit plans, (7) business (corporation, partnership, unincorporated associations), and (8) ...
Reciprocal insurance company: A reciprocal insurance company, also known as a reciprocal inter-insurance exchange, is an unincorporated association of subscribing members that agree to pool their risks. As with a mutual insurance company, the policyholders are the owners of the company and profits ar...
interinsurance exchange) is a private unincorporated mutual insurer consisting of members who insure each other. Each member insures every other member — hence, the name. A reciprocal exchange, constituting only a small part of the insurance market, mostly provides property insurance, particularly ...
796 F.2d 981, 983 (7th Cir. 1986). The court concluded, after examining the relevant Texas statutes, that the defendant was an unincorporated association, in part because though Texas law "subjects both [reciprocal insurance associations and insurance corporations] to the same supervision of state...
unincorporated with no capital as such Operate mainly in the field of automobile insurance Lloyd’s Associations An organization of individuals joined together to underwrite risks on a cooperative basis Each member assumes risks personally and does not bind the organization for these obligations Each ...
Types of Private Insurers A reciprocal exchange is an unincorporated mutual The reciprocal is managed by an attorney-in-fact In a pure reciprocal exchange, insurance is exchanged among the members; each member of the reciprocal insures the other members A separate account is kept for each member...
such as Payable-on-death accounts and formal revocable trusts such as living/family trusts created for estate planning purposes), (4) irrevocable trusts, (5) certain retirement plans, (6) employee benefit plans, (7) business (corporation, partnership, unincorporated associations), and (8) ...