In light of the previous section which discussed definitions of this kind of insurance, we can summarize its characteristics as follows:
It is a consensual contract, which includes obligations and acceptance. Each policyholder has two qualities: as a policyholder and as an insurer to his colleagues in the Cooperative Insurance Fund. He is an insurer to others through the amount of money he pays when he participates in the insurance. He is a partner and a shareholder in the amount of money from which indemnity is paid. He himself is a policyholder because by participating in the insurance, he becomes a beneficiary. Thus, he has the right to receive an indemnity for the loss he more...
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