Talk:Reciprocal inter-insurance exchange
From Wikipedia, the free encyclopedia
A URIE is an "insurance company", usually referred to in US state-by-state legislation as either a reciprocal insurance exchange or a reciprocal inter-insurance exchange.
A URIE is conventionally operated by an attorney in fact [AIF]: the AIF may be either a "natural person" or a "corporate person".
The URIE, however, is always "unincorporated". The URIE is often confused with an "incorporated" mutual insurance company. A URIE is not a "mutual". Reinmuth (v.i). likens the URIE to an LLC or perhaps even an LP. Both the URIE and the LLC are made up of subscribers.
These subscribers enter into a direct partnership - one with the other - with most of the features of mutual agency conventionally associated with simple partnerships. As is also true in the case of the LLC, there is no incorporated limited liability entity owned by shareholders: such share ownership and limited liability evidenced by stock certificates issued to each owner in proportion to his/her ownership.
The subscriber to the URIE may be either a "natural person", an LLC or LP, a partnership, or a corporation. In some states municipalities form URIEs to cross-indemnify towns, cities, villages, and counties. While any legal person can be a subscriber to a URIE (if permitted by the URIE's subscriber agreement and by-laws), it bears mentioning again that the URIE is unincorporated.
N.B.: a URIE is always unincorporated.
The essence of the URIE is that subscriber A agrees to indemnify all the other subscribers: subscriber B + subscriber C + . . . subscriber Z.
In turn, subscriber B + subscriber C + . . . subscriber Z agree to indemnify subscriber A.
The agreement of each subscriber to indemnify each and every other subscriber is the URIE; which expressed mathematically might look as follows:
subscriber A + subscriber B + subscriber C + . . . subscriber Z
The AIF is an artifact of the partnership/LLC known as the URIE. The AIF is a stakeholder/trustee who holds the deposits made by each subscriber. In that regard, the AIF is a classic trustee, and the subscribers are the beneficiaries of the trust. From this analogy follows the supposition that the AIF of a URIE is governed by the prime directive of trustees and their trusteeships, which is: the AIF/trustee shall not invade or otherwise convert the money belonging to the beneficiaries.
Very little has been written about URIEs.
The principal source of thinking about URIEs is:
"The Regulation of Reciprocal Insurance Exchanges" by Dennis F. Reinmuth, Richard D. Irwin Inc.: This book is practically impossible to locate except if one turns up on alibris.com. Otherwise, readers should check with the nearest large law school library.
The history of a significant and well know URIE, the United Services Automobile Association [USAA] can be found in these two books:
"USAA. A Tradition of Service 1922 –1997" by Paul T. Ringenbach, The Donning Company [Vanity Publishers], 1997. ISBN 0-89865-993-0. This book is copyright © 1997 USAA [sic]. [Ringenbach].
and
"USAA: life story of a business cooperative", by Edward Clare Dunn, McGraw-Hill Inc., 1970 ISBN 07-018280-9 [Dunn].
Contents |
[edit] See also
[edit] POV Edits
Just as I have said in the USAA artilce, the subject of your arrest is not encyclopedic. Wikipedia is not a soapbox, a blog, or personal webspace. It doesn't matter which account you use Zorro redux, RobertJKoenig, or your other sockpuppet I will still take this dispute to Wikipedia:RFC if you do not respect the policies of Wikipedia and contribute in a meaningful way. Movementarian 07:58, 3 January 2006 (UTC)
[edit] Request for Comment (RfC)
I have intitiated a Request for Comment regarding Robertjkoenig, his IPs, and suspected sockpuppet Zorro redux. Interested parties should proceed to Wikipedia:Requests for comment/Robertjkoenig in order to be heard. Movementarian 19:48, 3 January 2006 (UTC)
[edit] Renamed
I renamed the page and removed the word "unincorporated". Since the first author of this article even pointed out that reciprocals are never incorporated, it is thus inherent in the definition of the phrase "reciprocal interinsurance exchange" that they are unincorporated, thus, the word unincorporated is redundant. When referring to reciprocals, the word unincorporated does not occur in front of "interinsurance" in any other citation I can find on the internet save for articles at answers.com which link here as well as one other blog-type site which appears to have been written by the original author of this article and refers to a debate at Wikipedia about USAA. Swizzlez 16:27, 15 September 2006 (UTC)
[edit] new vandalism
Robert J Koenig is back on his crusade against USAA, using this article as his tool. He seems to want to include references to a lawsuit against USAA (which, on my read, in the off chance it does succeed will actually not bring down USAA like he thinks it will), as well as his "book" which rails against USAA. Since he himself has tried to argue that there are numerous interinsurance exchanges in the US, any NPOV reference to USAA belongs on the USAA page, not this one. I will continue to fix any vandalism he posts here. Swizzlez 18:46, 25 September 2006 (UTC)
[edit] Class Action
I am not RJK. The admitted USAA employee - Swizzlez should post his name telephone number and address. He is the USAA sockpuppet. Go to Wiki article on "Class Action" You will see that links to the $11Billion WalMart class action are posted and have not been removed. Precedance established by that article proves that Swizzlez is the one supressing the truth. True v. USAA is "Unigue" and a case of first impression. Damages caused by the fraud of the Attorney-in-Fact and Boards of Directors are over $5Billion. That case is been intentionally and maliciously hidden from the rightful owners of USAA. USAA is an Unincorporated Reciprocal Interinsurance Exchange as a matter of law and Swizzlez is manipulating Wikipedia to prevent google from disclosing the "TRUE" facts.
- 1) Sign your post
- 2) Funny, you write just like RJK. Anyway, this article is about the concept of "Reciprocal Interinsurance Exchanges", not legal issues. Class Action is obviously a legal topic. I'll continue to scrub your edits considering you've been banned from Wiki. Swizzlez 22:50, 27 September 2006 (UTC)
[edit] Swizzlez USAA Attorney
This is not funny!!! This article was about "Unincorpotated Reciprocal Interinsurance Exchange"'s "URIE"'s until you in a lawyer like fashion, after admitting to being a USAA employee on Wiki Article "USAA" began twisting the facts and truth and using tactics to discredit Mr Koenig. Your words are much like those used by employeed Attorneys in the insurance industry. In the case of USAA the member - owner - policyholders are also the same guys that own everything at USAA, every single penny.
[edit] vandal
You are obviously a vandal and RJK since you and your sockpuppets are fascinated with the word "unincorporated" both on your own blog and on wikipedia. You created a new account specifically to revert changes made to copy edit and remove bias which have stood the test of other editors besides myself. You have been reported for vandalism and I expect will be blocked soon enough. Swizzlez 17:22, 28 September 2006 (UTC)
[edit] Swizzlez Will Not Deny That he is a USAA Attorney
Because he is a USAA Attorney. I am not RJK and I am not an Attorney. You slander me because you needed to slandered him. As an Attorney you well know that USAA has perfected its fraud upon the members because the members did not understand that USAA was Unincorporated. It is the reason why you as an Attorney and other USAA employees have had to smear Mr Koenig and now me for exposing the fraud, deception and vandalism you Swizzlez have perpetrated upon Wikipedia.
--- The above post was unsigned
---
That's laughable. sign your posts. i am not attorney, nor do i work for USAA, as it states on my user page. your read of an archived discussion on the USAA talk page was wrong; I'm sure you know it. I am about 99.44% sure you are Robert Koenig or someone very close to him, you write like him, the only issues you post about are those he posts about, you mention the True case ad nauseum. I honestly don't think anyone but you cares that USAA is not a corporation, but it looks like the article has been locked down anyway due to your edits. Congratulations.
Swizzlez 23:30, 28 September 2006 (UTC)
