NIE has provided Fabricare Insurance since 1915!

What's a Reciprocal Exchange?

A reciprocal exchange is a group of risks that insure each other. When you purchase insurance from an exchange, you become more than a policyholder; you become a subscriber.

An exchange's subscribers appoint an attorney-in-fact to manage the exchange. Our subscribers also elect a committee to advise the attorney-in-fact of subscriber needs and preferences. Our Advisory Committee also decides what to do with the Exchange's profit, how the Exchange's assets should be invested, what actuarial firm should analyze the Exchange's loss reserves, and what CPA firm should audit the Exchange's financial statements.

When our Exchange generates a profit, up to 100 percent of that profit can be returned to policyholders.

If our Exchange generates a loss, policyholders can NOT be required to pay additional premium. That's because our Exchange issues only non-assessable policies.