HRS §431:3-107
What reciprocal insurance means
This section defines reciprocal insurance. It is a type of insurance where people in an unincorporated group exchange insurance contracts with each other through a common attorney-in-fact. This way, they provide insurance coverage for one another.
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The statute, as written — Reciprocal insurance
Reciprocal insurance means that insurance resulting from the exchange of insurance contracts among subscribers of an unincorporated association, the interexchange being effectuated through an attorney-in-fact common to all such subscribers, thereby providing insurance coverage on each other.
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